Tata Consultancy Services (TCS) has reportedly expressed interests in acquiring Germany based Siemens’ IT solutions and services unit which would further strengthen company’s presence in Europe.

German newspaper Boersen-Zeitung suggests that the companies are expected to begin talks next week in Munich. The newspaper didn’t mention the source of the information. Earlier, Siemens Chief Executive Peter Loescher was considering the divestment of SIS's external business.

Siemens has just regrouped its divisions into three major verticals - energy, industry and health care.

Apart from TCS, other Indian outsourcing firms like Infosys, Wipro and Satyam have been moving into markets including Europe, Asia, the Middle East and Latin America to reduce dependence on the US market, which accounts for more than half the sector's revenue.

When contacted, TCS declined to comment but did not actually deny the reports. X