Tata Consultancy Services (TCS), India's pioneering software-exporting firm that serves several major US customers, is floating its initial public offering this week, hoping to attract more than US$1 billion in the process.
The software-services firm parlayed routine data-entry work -- including the building of the Detroit Police Department's criminal database -- into a company that has become a leading Indian software-services consultancy.
"We can rightfully claim our position as creators of the IT industry in India and the largest IT services company in the country," said TCS's chief executive officer S. Ramadorai in a statement about the IPO. Tata Group chairman Ratan Tata stated that a "crucial component" of the firm's overall strategy is to strengthen its core IT business.
Tata's biggest customer is the General Electric Company, which accounts for more than 15 percent of its business. Other US firms utilising TCS software operations include American Express, AT&T, Boeing, British Telecom, Compaq, Dell, General Motors, IBM, and Microsoft. In addition to the City of Detroit, additional government work performed by Tata includes contracts with the states of Montana and Pennsylvania.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
