TCS will buy a 96.3% equity interest in Citigroup Global Services Limited, the India-based captive business processing outsourcing arm of Citi. Under TCSÆs ownership CGSL will continue to provide Citi and its affiliates with business process outsourcing BPO services for the contract term.
ôThis deal is probably the largest take-or-pay contract agreed in the information technology sector in India to date,ö says a source close to the deal. For TCS, the assured business from Citi makes...
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