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TCS gets $1.2 bn Nielsen contract

TCS gets $1.2 bn Nielsen contract
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First Published: Thu, Oct 18 2007. 12 32 PM IST
Updated: Thu, Oct 18 2007. 12 32 PM IST
Mumbai: Tata Consultancy Services Ltd, India’s top software services exporter, said on Thursday it had signed a $1.2 billion contract with Nielsen Co, sending its shares up nearly 5%.
The 10-year contract is for Tata Consultancy to provide IT services to Nielsen’s worldwide operations, the company said in a statement.
Tata Consultancy, part of India’s Tata Group that has diverse interests including steel and cars, will also handle some of Nielsen’s finance and human resource business process, it said.
The news sent shares in Tata Consultancy, which has a market value of $27.3 billion, up nearly 5% to 1,149.50 rupees, its highest level in more than nine weeks. Its shares were up 4.4 percent at 1,143 rupees at 0650 GMT.
Nielsen Co provides television and Internet audience measurement services and research for the consumer goods and retail industry.
“This arrangement will help us streamline and simplify our IT infrastructure and application platforms and operational practices,” Mitchell Habib, executive vice president in charge of Nielsen Global Business Services, said in the statement.
“It will give us much greater flexibility to respond quickly to changes in the marketplace,” he said.
As part of the agreement, Tata Consultancy will take direct responsibility for a Nielsen team based in Baroda in the western state of Gujarat which provides retail measurement services, it said.
Tata Consultancy, which competes with local firms such as Infosys Technologies and Wipro as well as multinational firms like IBM for outsourcing deals, counts General Electric and ABN AMRO among its clients.
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First Published: Thu, Oct 18 2007. 12 32 PM IST