Business   

TCS buys out JV partner in Brazil

Staff Reporter

NEW DELHI: Tata Consultancy Services (TCS) on Saturday said it had increased its stake in the Brazil-based joint venture IT services company, TCS do Brasil, from 51 per cent to 100 per cent. TCS acquired Grupo TBA's 49 per cent stake for $33.4 million.

However, Grupo TBA and TCS have signed a co-operation accord by which they will continue to jointly service clients in areas of complementary services, offering to the Brazilian market a full services capability in IT services, consulting and products, TCS said in a statement issued here.

TCS do Brasil, which has over 1,700 employees, recorded a topline of $66.5 million for the year ended March 31, 2007.

In 2002, TCS entered the Brazilian market through a 51:49 joint venture with Grupo TBA.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Godrej to focus on real estate
Bank of Baroda to open 10 overseas branches
TCS buys out JV partner in Brazil
IndusInd Bank net up 85 p.c.
EEPC seeks to enhance international dimension
Bullion rates

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu