Nielsen Boosts TCS Contract to $2.5 Billion
February 12, 2013 2:48 PM EST
Nielsen Holdings NV, best known for its TV ratings, increased the size of its contract with India's top software services exporter,Tata Consultancy Services Ltd, to $2.5 billion from $1 billion.
The expanded contract, among TCS's largest, comes at a time when there are expectations that India's $100 billion IT services sector may be turning a corner helped by acceleration in IT spending by existing customers and addition of clients.
Nielsen also extended the contract by three years to 2020, and said it would buy at least $100 million in services annually from TCS, according to a regulatory filing.
The number of clients contributing $100 million or more to annual revenue rose to 16 from 14, TCS said in January.
Under the 10-year contract signed in 2007, TCS provided IT and business services to Nielsen.
TCS already has a multi-year outsourcing contract worth $2.5 billion with Citigroup Inc and a $2.2 billion contract with UK-based Friends Life.
TCS shares closed at 1,414.70 rupees on Monday on India's National Stock Exchange.
Nielsen, which has a market value of $11.9 billion, closed at $32.67 on the New York Stock Exchange.
Most Popular Slideshows
- Reasons Why Michael Jordan Is Better Than LeBron James [PHOTOS And VIDEO]
- Dwyane Wade, Joe Johnson, Amare Stoudemire Among Worst Contracts In The NBA (Part 2 - Eastern Conference)
- Brawl-Marred Game in NFL Week 3: Philadelphia Eagles 37, Washington Redskins 34 [PHOTOS]
- NFL Monday Night Football Recap: Chicago Bears 27, New York Jets 19
Join the Conversation
- Hungry Jack’s Joins McDonald’s Australia Monopoly Campaign With McOpoly Promo
- iPhone 6 Survives Drop, Both Accidental & Intentional
- Apple Inc (AAPL) Stock Surge Expected Soon as Analysts Predict iPhone Opening Weekend Sales
- Alibaba Sells Extra Shares; IPO Raises $25B, Breaks Global Record
- Furore Over Facebook Mark Zuckerberg $10m Fortress In San Francisco
- Nexus 6, 8 Release Date is Halloween 2014 as Android L Intro Set for October 16
- New Samsung Galaxy Note 4 and Galaxy S5 Android 5.0 L Killer Features, Encryption and More
- Moto G 2014 v Asus Zenfone 5 – Specification Comparison Shows Zenfone 5 Is A Good Alternative for Moto G
- Android 5.0 L Nexus 4, Nexus 5, Nexus 7 Release in October, Google Employees Offer Hint
- U.S and Canada Fighter Jets Chase Out Russian Jets Near Alaska: Air Space Violation Not Confirmed
- Microsoft Doubles OneDrive Space To 30GB Due To iOS 8 Update Issues
- Nexus 8, Nexus 9 Release Date, Device Name And Price Conundrum: What To Expect?