23-Nov-2006, 02:01 AM
|
#1 (permalink)
|
|
Administrator
Posts: 876
Join Date: Oct 2005
Rep Power: 10
|
Microsoft buys 10% stake in TCS ChinaMicrosoft buys 10% stake in TCS China
| Microsoft has bought 10% stake in TCS China, a joint venture promoted by India's largest IT services firm Tata Consultancy Services (TCS) and three state-owned Chinese companies. | | | The US software behemoth today signed an investment agreement to join the JV, a company release said here.
Though the company has not disclosed the investment figures, sources familiar with the development said Microsoft would pump in $1.4 million for 10% stake in the venture.
With Microsoft's entry, the shareholding of the JV would change. TCS Asia Pacific would now own 65% stake and the Chinese partners 25%, the release said.
TCS had last year formed the joint venture with three Chinese companies backed by the local governments of Beijing and Tianjin.
"TCS China would allow us to provide our clients with the best in technologies at affortdable prices, with services delivered at TCS' known global quality processes," Girija Pande, head of TCS Asia Pacific, said.
TCS China would focus on manufacturing, telecom as well as government sectors, it said, adding the company would also concentrate on key technologies with Centre of Excellence in Microsoft. |
|
|
|
Similar Threads
Linear Mode
