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TCS LAYS OUT STRATEGY TO GET A FOOTHOLD IN JAPAN(Indian Business Insight Via Acquire Media NewsEdge) Tata Consultancy Services (TCS) has put in place a strategy to grab a larger pie of the $110 billion information technology (IT) services market in Japan. TCS has signed an agreement to merge its Japanese subsidiary, TCS Japan, with IT Frontier Corporation (ITFC), the IT arm of Mitsubishi Corporation. The merged entity will have a value of around $300 million. TCS will pay $50 million to Mitsubishi and hold 51 percent stake in the merged entity, while ITFC will hold the remaining 49 percent. The deal is expected to be closed by end of Jun 2014. TCS is India's largest IT services firm with revenue of $13.4 billion. |