TCS will provide a range of IT functions including application development, maintenance and support, program management, and business analysis services. The company said it beat three global and local technology companies to secure the deal, which is its largest to date in Latin America.
TCS has been investing heavily over the last couple of years in building up its Latin American presence. In November 2005 the company paid $23m to acquire Chilean banking and pensions BPO provider Comicrom, and since then it has secured key deals with local clients including Transantiago and Ecuador’s Banco Pichincha.
Earlier this year, TCS opened a delivery center in the Mexican city of Guadalajara, and announced plans to hire 500 staff in the short term. Alongside this new Mexican center, TCS has large facilities in Brazil, Chile, Ecuador, and Uruguay, as well as offices in Argentina and Colombia.
The win comes just one month after TCS announced its biggest deal to date, a $1.2bn project to provide a full range of IT services, including business process outsourcing, to media and information services giant Nielsen. In all, TCS has announced seven contract wins worth $100m ore more so far this year, including a $140m deal with Indian telecoms operator BSNL and the previously mentioned project with Banco Pichincha, also valued at $140m.
