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TCS, MITSUBISHI FORM $600-MILLION IT SERVICES FIRM
[April 23, 2014]

TCS, MITSUBISHI FORM $600-MILLION IT SERVICES FIRM


(Indian Business Insight Via Acquire Media NewsEdge) Tata Consultancy Services (TCS) intends to merge two of its subsidiaries to set up a joint venture with Mitsubishi Corporation. The company intends to merge Nippon TCS Solution Centre Ltd and TCS Japan to set up a joint venture with IT Frontier Corp of the Mitsubishi Group. The joint venture, TCS Japan, is expected to have revenue of $600 million a year. TCS will invest $50 million to acquire a stake of 51 percent in TCS Japan. Mitsubishi is expected to contribute $250 million to the revenue of the new joint venture.



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