Mumbai: The country’s largest software maker by revenue Tata Consultancy Services Ltd (TCS) has won a 10-year, £600 million (Rs4,122 crore) contract to set up and maintain the information technology (IT) system for the UK’s national pensions scheme.
The country’s Personal Accounts Delivery Authority, the administering authority for the scheme, said on Tuesday that the contract, which can possibly be extended for another five years, would be signed later this month.
Mint had first reported on 16 December that India’s largest software services firm was the only company left in the fray for the new pension scheme contract.
This is the largest public sector contract that any Indian IT firm has won in the UK and is expected to further open up opportunities in the £10 billion public sector technology outsourcing market in that country currently dominated by European IT firms.
“It is certainly a major win for TCS, and a sure sign that the appetite for global delivery is changing in the UK public sector,” said John O’Brien, analyst at Ovum, a UK-based technology researcher that tracks local IT services. Other Indian vendors that already have significant presence in the UK, such as HCL Technologies Ltd, Infosys Technologies Ltd and Wipro Ltd, would be in a strong position to benefit from the profile that this win will generate, he added.
Other large UK public sector deals TCS has won in the recent past include a $150 million (Rs690 crore today) contract in November from local government authority Cardiff Council and a £55-million deal with UK’s Child Maintenance and Enforcement Commission, which was signed in April.