Indian outsourcer Tata acquires Citi’s BPO arm for £300m

Indian outsourcing supplier Tata...

This Article Covers

Outsourcing

Indian outsourcing supplier Tata Consultancy Services (TCS) is acquiring rival outsourcer Citigroup Global Services (CGS) for about £300m.

India-based CGS is the business process outsourcing (BPO) arm of bank Citi. In addition to the sale, Citi has signed an agreement for TCS to provide, through CGS, process outsourcing services to Citi and its affiliates in a deal worth almost £1.5bn over 9.5 years.

The agreement builds upon the existing relationship between Citi and TCS, whereby TCS provides application development, infrastructure support, help desk and other process outsourcing services to Citi.

The acquisition broadens TCS's portfolio of end-to-end IT and BPO services in the global banking and financial services sector.

CGS has more than 12,000 employees located in India and expects to generate revenues of around £165m in 2008.

The deal is expected to be completed in the fourth quarter.

CW+

Features

Enjoy the benefits of CW+ membership, learn more and join.

Read more on IT outsourcing

0 comments

Oldest 

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to:

-ADS BY GOOGLE

SearchCIO

SearchSecurity

  • Dissecting the Hack

    In this excerpt from chapter three of Dissecting the Hack: The V3RB0TEN Network, authors Jayson E. Street, Kristin Sims and Brian...

  • Digital Identity Management

    In this excerpt of Digital Identity Management, authors Maryline Laurent and Samia Bousefrane discuss principles of biometrics ...

  • Becoming a Global Chief Security Executive Officer

    In this excerpt of Becoming a Global Chief Security Executive Officer: A How to Guide for Next Generation Security Leaders, ...

SearchNetworking

SearchDataCenter

SearchDataManagement

Close