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Tata Consultancy Services and Microsoft to go hand in hand with Chinese firms
TCS and Microsoft selected by Sino-India Cooperative Office (SICO) as strategic partners; plan JV with Chinese companies.
OUR BUSINESS CORRESPONDENT
Beijing, June 30, 2005: Tata Consultancy Services (TCS) and Microsoft were selected as strategic partners by Sino-India Cooperative Office (SICO) of China .
Both TCS and Microsoft, and Beijing Zhongguancun Software Park Development Co., Ltd., Uniware Co., Ltd. and Tianjin Huayuan Software Park Construction and Development Co., Ltd. followed it up with an announcement that together, they plan to set up a software joint venture company to provide IT outsourcing services and solutions to both the global market and domestic market.
The JV company will be located in Beijing's Zhongguancun Software Park. It will start operation in early 2006. The announcement said that a key objective of this partnership is to build the new venture as a role-model for the growing Chinese software industry.
The top guns of all concerned parties were in attendance at the LoI signing ceremoney 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 plans to leverage the complimentary 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 on 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.
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)).
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.
OUR BUSINESS CORRESPONDENT
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