|
Mumbai:
Tata Consultancy Services (TCS), Asia''s leading
software firm, has teamed up with three Chinese firms
to set up a software joint venture in China. TCS will
invest $15 million (nearly Rs 70 crore) in the joint
venture.
TCS
subsidiary, Tata Consultancy Services Asia Pacific,
will hold 72.22 per cent in the joint venture while
the three Chinese firms - Beijing Zhongguancun Software
Park Development, Uniware and Tianjin Huayuan Software
Area construction and Development - will participate
as strategic investors, holding 27.8 per cent share,
TCS informed the BSE in a release.
Once
the venture is established, both partners will offload
an equal number of shares to give a 10 per cent stake
to Microsoft Corporation.
The
new company, Tata Consultancy Services (China) is expected
to start operation in September this year. The joint
venture firm, to be located in Beijing''s Zhongguancn
Software Park, will provide IT services and solutions
to clients in the global as well as the Chinese market.
"This
venture is a significant business opportunity, which
is China-centric from a resource perspective, has global
appeal in terms of its customer offerings and is capable
of creating a Chinese domestic business of increasing
scale. TCS will help develop best-in-class core competencies
in software engineering, processes, scalable software
development by using our unique and world-renowned learning
and development model that will create new opportunities
for IT professionals and the industry in China,"
S Ramadorai, CEO and MD of TCS, said.
The
joint venture will leverage the complimentary strengths
of the different partners in technology, software development
management, talent acquisition and training, including
the global scale processes and practices of TCS It will
also leverage experience and resources of the Chinese
partners, which run the national software development
parks. The jont venture has been initiated and supported
by NDRC, with the objective of supporting China''s local
software industry through international cooperation.
|
