Mumbai: India's biggest software services exporter, Tata Consultancy Services (TCS) and Japanese major Mitsubishi Corporation on Wednesday announced a new joint venture, Nippon TCS Solution Center Ltd for the Japanese market.
"The JV will be set up with an initial investment of USD 5 million, which will be raised in a phased manner. In this joint venture, TCS Japan has taken 60 percent stake, while the remaining 40 percent will be held by Mitsubishi Corporation," TCS CEO and managing director N Chandraseakaran said at a conference call here.
The joint venture company will offer a full service suite of IT, BPO and infrastructure services to Japanese corporations. The new joint venture will also establish a nearshore delivery center in Japan, TCS said in a statement.
The joint venture comes against the backdrop of a strong yen, the globalisation of supply chains and a growing trend toward overseas mergers and acquisitions, all of which act as a catalyst for the increasing globalisation of Japanese companies. This has brought heightened interest in the role of "global IT services" to link domestic and overseas operations, the company said....more
05:08 PM, Feb 08, 2012