TCS inks A$328m global deal with ABN AMRO

Stan Beer
Sunday, 04 September 2005 17:13

IT Industry - Deals

In what it describes as the largest deal ever won by an Indian IT company, Tata Consultancy Services (TCS) has signed a 5 year contract with the Dutch bank ABN AMRO to provide Applications Support and Enhancements, as well as the right to bid for applications development projects.

The contract is expected to generate committed revenues for TCS of over EUR200 million (A$328 million) over the next five years.

Leveraging its offshoring model, through centres in Latin America and Hungary, TCS will manage a major part of ABN AMRO’s application support and enhancement services for its operations in the Netherlands, Brazil as well as its private client business globally. In addition, TCS will also provide  application development for the Dutch Bank as one of the five preferred suppliers. 

“TCS has been investing continuously to build its global delivery model and best-in-class execution abilities. The milestone engagement with ABN Amro is a complete and irrevocable validation of our global delivery strategy,”” said S. Ramadorai, TCS CEO.

“In addition to the significant annual revenues it will generate, this is the first multi-national global engagement that allows TCS to utilise its global delivery model in its entirety.” In addition to its large development centre in India, over 500 consultants will work from TCS’ global delivery centres in Brazil and Hungary.

“TCS’ strategy to grow in Europe and other markets in order to achieve its global vision is beginning to bear fruit.  As part of this strategy, we wanted to look at large contracts outside of the US and this deal is a vindication of our stance – we are very proud to be partnering with ABN AMRO, “ said N. Chandrasekaran, executive vice pPresident and head – global operations, TCS.  “This is the largest deal that any Indian company has signed – our capabilities are being recognised across the world, “ he added. The deal also establishes the scale of TCS’ Latin American Operations and positions the company as the strategic IT partner for the region."