TCS says signs $65 mln deal with Somerfield

MUMBAI (Reuters) - Tata Consultancy Services Ltd., India's top software services exporter, said on Wednesday it had signed a seven-year, $65 million IT services deal with British retailer Somerfield.
TCS said it would take over the entire IT operations, asset management and planning for Somerfield. As a result, 115 employees of the British company would be made redundant.
"This is the first full services contract win for any Indian company outside of India," Phiroz Vandrevala, global head of corporate services at TCS, said in a statement.
TCS said it had about 3,000 people working in some 50 locations in Britain and another 900 at its site in Peterborough, but it still had 150-200 vacancies.
"The affected employees will be actively considered across the 150-200 vacancies in TCS operations in the U.K.," the firm's senior general manager for corporate communications, Pradipta Bagchi, said.

Source : Reuters