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TCS wins $100-m deal in China

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CIOL Bureau
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MUMBAI: Tata Consultancy Services (TCS) had clinched a $100 million deal from the Bank of China, agencies reported quoting industry sources.

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According to available information on the terms and conditions of the deal, TCS would provide a range of solutions to the State-run Chinese bank. More details on this deal was not immediately available.

This deal came close on the heels of a seven-year, $65 million agreement the Indian IT major had announced last Wednesday with Somerfield, a Britain-based small-format food retailer, to provide a full range of managed IT services. Industry sources dubbed TCS’ win in China as one of the major IT deal signed by a Chinese bank ahead of the opening up of that country's banking sector to foreign competition by December 11 under Beijing's commitment to the World Trade Organisation.

Indian IT firms were aggressively expanding their operations and bidding for government contracts in China.

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