IT Intelligence Bulletin – Tata Consultancy Services (TCS) has won a $2.25 billion outsourcing contract from US-based consumer research firm Nielsen.
The deal, the largest ever secured by an Indian IT firm, will top up the existing contract until 2025.
Nielsen had first awarded a $1.2 billion contract to the Mumbai-based company in 2007 for 10-year period. In 2013, Nielsen extended its ongoing contract with TCS by three years until 2020 and more than doubled the value to $2.5 billion.
The terms of the agreement have been extended for an additional five years so as to expire on December 31, 2025, with three one-year renewal options granted to Nielsen, the research company said in a regulatory filing to the U.S. Securities and Exchange Commission (SEC).
This report continues after the following message from HG Insights:
“Nielsen has committed to purchase services from TCS from the Effective Date through the remaining term of the Agreement (the ‘Minimum Commitment’) in the amount of $2.25 billion, including a commitment to purchase at least $320 million in services per year from 2017 through 2020, $186 million in services per year from 2021 through 2024, and $139.5 million in services in 2025,” it stated.
The filing added that the Mumbai-based firm will globally provide Nielsen with professional services relating to IT – including application development and maintenance – BPO, client service knowledge process outsourcing, management sciences, analytics, and financial planning.
Send HG Insights your news
Have you got IT news you would like the HG Insights news team to cover? Maybe you have the inside track on a major IT news story or have heard something significant or of interest to the global IT sector. We value all contributions.
Email all press releases / information to News@HGInsights.com and one of our journalists will get back to you.