Global News

September 2, 2005
TCS signs five year global deal with ABN Amro

AMSTERDAM & MUMBAI -- Tata Consultancy Services (TCS) recently announced that it has signed a five year contract with the Dutch bank ABN Amro to provide applications support and enhancements across the Bank, and the right to bid for applications development projects as well. This is the largest deal won by an Indian IT services company ever. The landmark engagement is expected to generate committed revenues for TCS of over EUR 200 million over the next five years.

Leveraging its global delivery model (GDM), through centres in Latin America and Hungary, TCS will manage a major part of ABN Amro’s application support and enhancement services for its operations in the Netherlands, Brazil as well as its private client business globally. In addition, TCS will also provide application development for the Dutch Bank as one of the top five preferred suppliers and deliver ABN-Amro’s strategic banking platform.

S. Ramadorai, CEO and MD, TCS, said: “TCS has been investing to build its global delivery model and best-in-class execution abilities. The milestone engagement with ABN Amro is a complete and irrevocable validation of our global delivery strategy. In addition to the significant annual revenues it will generate, this is the first multi-national global engagement that allows TCS to utilise its GDM in its entirety,”

N. Chandrasekaran, executive vice president and head–global operations, TCS, commented: “TCS’ strategy to grow in Europe and other markets in order to achieve its global vision is beginning to bear fruit. As part of this strategy, we wanted to look at large contracts outside the US and this deal is a vindication of our stance – we are very proud to be partnering with ABN Amro. The deal also establishes the scale of TCS’ Latin American operations and positions the company as the strategic IT partner for the region.

Contact:
Tata Consultancy Services Ltd.
Tel: 91-22-56689999
pradipta.bagchi@tcs.com