Tata Consultancy Services, Mitsubishi to form software services company
Tata Consultancy Services has signed a pact with Japan's Mitsubishi to create a Japanese software services provider.
NEW DELHI: India's largest software services firm Tata Consultancy Services (TCS) has signed an agreement with Japanese major Mitsubishi Corporation to form a single IT services unit, the company said.
The merger, in which TCS will hold 51% stake and Mitsubishi 49%, will create a new IT services company of significant scale in the Japanese market with annual turnover of over $600 million.
"TCS Japan, IT Frontier Corporation (ITF) — Mitsubishi's 100 per cent IT subsidiary — and Nippon TCS Solution Center (NTSC), to merge as a single new entity," TCS said in a statement.
TCS will hold 51% in the merged entity, while Mitsubishi will have 49% and the merged entities would be operational from July 2014, it added.
ITF brings its long-standing relationships with Japanese corporations, talented workforce and competencies in industries like retail, distribution and trading, TCS said.
This will complement TCS' deep domain knowledge, technology expertise and strong execution track record, it added.
"This strategic transaction signifies our serious commitment to the Japan market. TCS will now have the scale, strong local presence and our full range of global capabilities to serve the Japanese corporations effectively and accelerate our growth in Japan market," TCS CEO and Managing Director N Chandrasekaran said.
TCS' Global Network Delivery Model (GNDMTM) capabilities will also enable the Japanese corporations' globalisation ambitions, TCS said.
The company will provide tremendous additional value to clients in Japan, while employees will secure the advantages of building their careers in a global organisation, it added.
The merger, in which TCS will hold 51% stake and Mitsubishi 49%, will create a new IT services company of significant scale in the Japanese market with annual turnover of over $600 million.
"TCS Japan, IT Frontier Corporation (ITF) — Mitsubishi's 100 per cent IT subsidiary — and Nippon TCS Solution Center (NTSC), to merge as a single new entity," TCS said in a statement.
TCS will hold 51% in the merged entity, while Mitsubishi will have 49% and the merged entities would be operational from July 2014, it added.
ITF brings its long-standing relationships with Japanese corporations, talented workforce and competencies in industries like retail, distribution and trading, TCS said.
This will complement TCS' deep domain knowledge, technology expertise and strong execution track record, it added.
"This strategic transaction signifies our serious commitment to the Japan market. TCS will now have the scale, strong local presence and our full range of global capabilities to serve the Japanese corporations effectively and accelerate our growth in Japan market," TCS CEO and Managing Director N Chandrasekaran said.
TCS' Global Network Delivery Model (GNDMTM) capabilities will also enable the Japanese corporations' globalisation ambitions, TCS said.
The company will provide tremendous additional value to clients in Japan, while employees will secure the advantages of building their careers in a global organisation, it added.
Hi guys If u like this post please leave a comment in comment box... comment box will top right of every post and bottom of every post. its useful for me give a better information.. check top of the blog there is menu bar in that go to comments i replied for u r comments because there is no direct option for reply for u r comments. if u want to give any suggestion in bottom of blog there is contact information option please leave a msgs with u r mail id sure i will get u.
.
0 comments:
Post a Comment