By IANS
New Delhi : Tata Consultancy Services (TCS), one of India's leading IT services firm, Saturday announced the consolidation of its Brazilian operations with the acquisition of 49 percent stake of its joint-venture partner Grupo TBA.
TCS and Grupo TBA had entered into a 51:49 joint venture in 2002 to create an IT services company, TCS do Brasil, which recorded a top line of $66.5 million in 2006-07 employing over 1,700 people, TCS said in a statement here.
Since its inception, the company has been able to achieve a considerable market share by enhancing deliverable capacities and focusing on customer satisfaction.
The joint venture has two delivery centres in Sao Paulo and Brasilia providing services to over 30 clients including ABN Amro, Goodyear, Equifax and Brasil Telecom.
Grupo TBA, however, would continue to jointly service clients in areas of complementary services, offering to the Brazilian market a full services capability in IT services, consulting and products.