TCS Consolidates Brazilian Operations

Tata Consultancy Services Ltd (TCS) has announced that it has increased its stake from 51% to 100% in the joint venture IT services Company TCS do Brasil. The Company acquired Group TBAs 49% stake for a consideration of $ 33.4 million. TCS do Brasil recorded a top line of $ 66.5 million for the year ended March 31, 2007 and has over 1700 employees.In 2002, the Company entered the emerging high growth Brazilian market through a 51:49 joint venture with Grupo TBA. In the synergistic relationship, Grupo TBA brought local market knowledge and client relationships, while the Company contributed world class methodologies, process and quality systems.Over the last 5 years, TCS do Brasil has been extremely successful in scaling its business, achieving market penetration and enhancing delivery capabilities thereby resulting in a high level of customer satisfaction.