India's TCS in aeronautical design JV with Saab
MUMBAI, Sept 10 (Reuters) - Tata Consultancy Services (TCS.BO: Quote, Profile, Research), India's top software services exporter, said on Wednesday it will partner with Swedish defence and aerospace group Saab (SAABb.ST: Quote, Profile, Research) for an aeronautical design and development centre.
The centre in India will offer defence and civil aeronautical services, including systems for new platforms, performance studies, virtual prototyping and aircraft sustenance engineering, TCS said in a statement.
Financial details were not disclosed.
"This partnership has a blend of Saab's technology solutions and TCS's global engineering model to address the growing opportunities in the aerospace and defence sector," said S. Ramadorai, chief executive officer of TCS.
Indian software services firms are increasingly tapping sectors such as aviation, retail and defence as they seek to cut reliance on banks and financial services firms, which have been battered by the U.S. subprime crisis.
TCS and other Tata Group units have ventures with European plane maker EADS (EAD.PA: Quote, Profile, Research), and a Tata Group unit also has ventures with aircraft maker Boeing Co (BA.N: Quote, Profile, Research). (Reporting by Rina Chandran; Editing by John Mair)
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