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August 31, 2005

TCS, Infosys win big Dutch banking deals – reports

Indian IT heavyweights Tata Consultancy Services and Infosys Technologies have received big outsourcing deals from Dutch bank ABN AMRO, according to a source quoted by Reuters yesterday. Together, the two contracts are likely to be worth upwards of $250m.

By CBR Staff Writer

TCS will provide application maintenance and development for ABN, with IBM, Accenture, and Indian vendor Patni Computer Systems also contributing development work.

Both TCS and Infosys declined to comment, but past company announcements have pointed toward a big Dutch banking deal for the two offshore companies. For example, TCS was scheduled to hold a press conference today for what it called India’s largest IT deal ever, with particular importance for the Dutch market. And Infosys CEO Nandan Nilekani was in Amsterdam for the deal signing.

TCS CEO S. Ramadorai in July said it was in discussions with a European company over a big outsourcing engagement, likely to be announced in Q3, and an Infosys official said the company was talking with a European bank about a deal worth more than $100m.

Meanwhile, ABN in June said it was in talks with outsourcing companies and that it would provide more information in September on cutting IT jobs and sending them to India. The bank could cut thousands of employees as a result of the deals, Reuters reported.

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