TCS Expected to Win $1Bn IT Outsourcing Contract

According to media reports, Deutsche Bank is expected to award a USD 1 billion IT outsourcing contract to TCS, the Indian IT services company. The deal is expected to cover sales and collections as well as the processing of financial data.

The proposed contract by Deutsche Bank is a part of its restructuring efforts to offshore more than fifty percent of its back-office work to India by the end of 2007. The bank is also planning to shift sales and trading operations by increasing its offshore services staff to 2,000.The deal, if concluded, would be the largest outsourcing deal for any Indian IT company.