TCS and Microsoft Intend to Establish Software Joint Venture with Chinese Firms
BEIJING, July 1 -- Xinhua/ PRNewswire/ AsiaNet
SICO selects TCS and Microsoft as Strategic Partners
Tata Consultancy Services (TCS), a leading global IT services company, and
Microsoft were selected as strategic partners by Sino-India Cooperative Office
(SICO) of People's Republic of China (PRC). As part of this strategic
partnership, Tata Consultancy Services Ltd. (TCS) of India, Microsoft, and
Beijing Zhongguancun Software Park Development Co., Ltd., Uniware Co., Ltd. and
Tianjin Huayuan Software Park Construction and Development Co., Ltd. announced
that the parties intend to establish a software joint venture company to
provide IT outsourcing services and solutions to both the global market and
domestic market.
The JV, to be located in Beijing's Zhongguancun Software Park, plans to
start operation in early 2006. The JV will provide IT outsourcing services and
solutions to all major worldwide markets particularly US, Europe, and the Asia
Pacific region including China's domestic market. The key objective of this
global initiative is to build the new venture as a role-model for the growing
Chinese software industry.
The Letter of Intent was signed by representatives of the parties in
Beijing -- Mr. Li Baoxin, Chairman of Zhongguancun Software Park Development
Co., Ltd., Mr. Tim Chen, Microsoft Corporate Vice President, CEO, Greater China
Region and Mr. Jayant Pendharkar, Vice President of TCS. Mr. Zhang Xiaoqiang,
Vice Chairman of the National Development and Reform Commission of PRC, Zhang
Mao, Vice Mayor of Beijing and Yang Dongliang, Vice Mayor of Tianjin attended
the ceremony together with Steve Ballmer, chief executive officer, Microsoft
Corporation??and V Rajanna, General Manager of TCS China.
The JV will leverage the complementary strengths of investing parties in
technology, software development management and talent training, in particular
best processes and practices of TCS as well as its experience of handling large
and industrial-scale projects. It will put into play the resources of Chinese
partners, which run the national software development parks.
The cooperative project has been initiated and supported by the NDRC, with
the objective of supporting China's local software industry through
international cooperation. Microsoft's investment also demonstrates its
commitment to the MOU signed in June 2002 with the NDRC for supporting the
development of China's software and IT industry.
"The success of the cooperation will help accelerate the development of
China's including Beijing's software industry and this model is a new way of
exploring international cooperation in the software industry," said Zhang Gong,
Vice Director General of Beijing Municipal Development and Reform Commission.
Commenting this strategic achievement, CEO and MD of TCS, Mr. S Ramadorai
said. "This venture is ample demonstration of the credibility that TCS has
established in a market like China within a short span of time." "TCS is
committed to this initiative and this venture will be integrated into our
pioneering global delivery model," added Mr. S Ramadorai.
"We see our government and industry partners as vital to our success in the
world's fastest growing economy," said Mr. Tim Chen, Microsoft Corporate Vice
President and CEO of Greater China Region. "We are fully committed to this
partnership and look forward to partnering and growing together with the
Chinese software industry."
TCS would be the majority share holder and Chinese Party and Microsoft will
be strategic investors holding minority shares.
Zhongguancun Software Park, with the support and guidance of NDRC and the
Beijing Municipal government has become one of the largest National Software
Industry Bases and export bases.
About Tata Consultancy Services in China
TCS has been operating in China since 2002 and delivering services and
solutions to its global, regional, and domestic customers from its Global
Delivery Centre at Hangzhou with the help of almost 250 engineers. TCS' Global
Delivery Centre in Hangzhou is the first and only organization in China
certified at Maturity Level 5 for both the Capability Maturity Model
Integration (CMMI(R)) and the People Capability Maturity Model (P-CMM(R)).
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services (TCS) is the world-leading information technology
consulting, services and business process outsourcing organization that
envisioned and pioneered the adoption of the flexible global business practices
that today enable companies to operate more efficiently and produce more value.
TCS achieved this by creating and perfecting a unique method of global
deployment and delivery of high quality, high value services and products in IT
consulting and business process outsourcing. Known as the "Global Delivery
Model," this strategic services delivery concept has reshaped the IT services
industry.
More than 75% of TCS customers reward the company's reliability, passion,
creativity, and unique ability to handle the broadest range of their IT needs
by continually extending and deepening their partnerships with TCS. With more
than 43,000 of the world's best trained IT consultants located in 32 countries,
TCS is uniquely positioned to deliver its flexible world class services
seamlessly to any location.
TCS reported consolidated revenues of $2.24 billion (U.S.) in the fiscal
year 2004-2005. The company is listed on the National Stock Exchange and
Bombay Stock Exchange in India.
About Microsoft Corporation
Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in
software, services and Internet technologies for personal and business
computing. The company offers a wide range of products and services designed to
empower people through great software -- any time, any place and on any
device. For Microsoft (China) website, pls go to
http://www.microsoft.com/China . For local press, pls. go to
http://www.microsoft.com/China/press .
About SICO
Under the guidance of NDRC, supported by Beijing Municipal Development and
Reforms Commission (BMDRC), Beijing Municipal Science and Technology
Commission, Tianjin Municipal Development and Reforms Commission (TMDRC), SICO
is set-up to represent the three National Software Export Bases (NSEB) of
Beijing and Tianjin.
Media Contact:
Adrian Lee
Fleishman-Hillard for TCS
Ph: +65 6424 6367
SOURCE Tata Consultancy Services (TCS)
--Distributed by AsiaNet (www.asianetnews.net)--
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