TCS bags $500m Citi deal

Rediff
Tata Consultancy Services has bagged $500 million outsourcing deal from global financial services giant Citigroup Inc. It is an application, maintenance and development contract, based on a 'take-or-pay-order' system. TCS officials confirmed the deal and its size but declined to spell out the client's name. "It's not our policy to divulge the client-specific information," they added. Industry sources said the order came from Citigroup's consumer division and TCS was expected to start the work in the first quarter of this financial year. more...