Company Update: TCS Limited

Company Update: TCS Limited
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First Published: Wed, Feb 11 2009. 09 32 AM IST
Updated: Wed, Feb 11 2009. 09 32 AM IST
Networking equipment manufacturer Cisco and TCS have formed a global strategic alliance to develop go-to-market solutions that meet the infrastructure and network requirements of global corporations.
The companies also announced the formation of a Cisco Technology Lab at the TCS campus in Chennai.
TCS will build a new technology practice focused on Cisco’s data centre networking and security solutions technology. They will also explore new networking innovations to address the needs of large and small businesses in the IT services space.
Both TCS and Cisco declined to share any financial details. It should be noted that currently both the firms do business of close to $100 million (approximately Rs480 crore).
As a part of this alliance, TCS will train close to 1,000 employees on Cisco technology. Initially, the alliance will focus on India and some customers of both the firms in the US and UK in the key verticals of BFSI, Telecom, government and small and medium enterprise (SME).
We maintain an ACCUMULATE on the stock, with a target price of Rs578.
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First Published: Wed, Feb 11 2009. 09 32 AM IST
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