Delhi: Tata Consultancy Services (TCS) is said to
have signed a $100 million deal with the Bank of China
to provide technology solutions. The deal is spread
over five years.
contract can be termed as one of the major IT-related
deals signed by a Chinese bank and is timely for a company
aggressively expanding in China, industry sources said.
of China had called for bids to revamp its IT infrastructure.
It is the second-biggest lender in China and has the
largest global network among all Chinese banks. The
bank is looking at integrating its IT requirements for
its international network.
said the opportunity is seen as huge because the vendors
who are able to bag the deal for the international network
will get an edge for mainland operations of the bank.
Chinese banks have not outsourced their IT development
to external vendors.
has built up a close relationship with Chinese trade
finance and software products company China Systems.
latest deal came close on the heels of a seven-year,
$65 million agreement TCS had announced early this month
with Somerfield, a British small-format food retailer,
to provide a full range of managed IT services.