TCS bags over 2 billion usd worth contract; heres about it
In a major breakthrough, Tata Consultancy Services Ltd (TCS) has bagged $2.25 billion outsourcing contract.
This is the largest ever contract bagged by an Indian information technology firm.
The contract has been received from television ratings measurement company Nielsen.
The deal marks the renewal of TCS’s engagement with Nielsen, which first awarded a $1.2 billion, 10-year contract to the Mumbai-based company in 2007.
In 2013, the deal size was more than doubled to $2.5 billion and extended by three more years until 2020.
The renewal of the deal is considered a shot in the arm for Rajesh Gopinathan, who took over as chief executive officer in February after his predecessor N. Chandrasekaran was appointed chairman of Tata Sons Ltd, the group holding company.
Nielsen’s outsourcing contract has been extended for five years until 2025 even as the rating firm has committed to spend more on buying services offered by TCS for the remaining four years of the earlier contract. >