TCS on the prowl, close to acquiring Australian co.
Economic Times (New Delhi, India), November, 2006
Nov. 7--SINGAPORE/NEW DELHI -- TCS is on the prowl again and this time round, the objective is to strengthen its presence in the Asia-Pacific region. TCS is close to acquiring a company in Australia and is looking to increase its Asia-Pacific revenue contribution to 7 percent in the next 2-3 years from about 4.7 percent, at present. Its joint venture in China with the Chinese government and Microsoft, called TCS China, has also kicked off operations.
TCS has 600 people in its 100 percent subsidiary in China called Tata Information Technology. This was set up in '02 and will now be merged with TCS China within the next 12 months. TCS holds a majority 65 percent stake in TCS China. The Chinese government holds 25 percent and Microsoft 10 percent. Johnson Lam, a...
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