TCS, Mitsubishi to form software services company

MUMBAI Mon Apr 21, 2014 2:43pm IST

Workers are seen at their workstations on the floor of an outsourcing centre in Bangalore, February 29, 2012. REUTERS/Vivek Prakash/Files

Workers are seen at their workstations on the floor of an outsourcing centre in Bangalore, February 29, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   
Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

MUMBAI (Reuters) - India's largest IT services exporter Tata Consultancy Services(TCS.NS) has signed a pact with Japan's Mitsubishi Corp to create a Japanese software services provider, the companies said in a statement on Monday.

Tata Consultancy Services Japan Ltd, Nippon TCS Solution Center Ltd and IT Frontier Corporation - a wholly owned unit of Mitsubishi - will be merged together to form a single entity, the pair said in the statement.

TCS will hold 51 percent while Mitsubishi will hold the remaining 49 percent of the entity, which will be operational from July 2014, they said.

(Reporting by Nandita Bose; Editing by Christopher Cushing)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Top News

REUTERS SHOWCASE

Kerry's India Visit

Kerry's India Visit

Kerry presses India on WTO deal ahead of arrival  Full Article 

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Lupin Results

Lupin Results

Q1 net profit up 56 percent on higher U.S. drug sales   Full Article 

L&T Slumps

L&T Slumps

L&T earnings raise 'multiple red flags' - Citi  Full Article 

Twitter Results

Twitter Results

Twitter assuages growth concerns for now as shares soar 35 percent  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

Fed Meeting

Fed Meeting

Fed seen trimming bond buys, could offer vague rate clues  Full Article 

Gaza Conflict

Gaza Conflict

Israel strikes house of Hamas Gaza leader, digs in for long fight.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage