TCS consolidates Brazilian Operations

Mumbai, May 28 (UNI) Information technology major, Tata Consultancy Services Ltd (TCS) has announced that it has increased its stake from 51 per cent to 100 per cent in the joint venture IT services company 'TCS do Brazil'. The company acquired 49 per cent stake for a consideration of $ 33.4 million.

TCS do Brazil recorded a top line growth of $ 66.5 million for the year ended March 31, 2007 and has over 1700 employees. The company operates delivery centers in Sao Paulo and Brasilia and provides services to over 30 clients.

In 2002, TCS entered the emerging high growth Brazilian market through a 51:49 joint venture.

Over the last 5 years, TCS do Brazil has been growing at a steady rate, resulting in a high level of customer satisfaction.

UNI