Mumbai: Microsoft has bought 10 per cent stake in TCS China, a joint venture promoted by India's largest IT services firm Tata Consultancy Services (TCS) and three state-owned Chinese companies.
The US software behemoth signed an investment agreement on Thursday to join the JV, a company release said.
Though the company has not disclosed the investment figures, sources familiar with the development said that Microsoft would pump in $1.4 million for 10 per cent stake in the venture.
With Microsoft's entry, the shareholding of the JV would change. TCS Asia Pacific would now own 65 per cent stake and the Chinese partners 25 per cent, the release said. TCS had last year formed the joint venture with three Chinese companies backed by the local governments of Beijing and Tianjin.
"TCS China would allow us to provide our clients with the best in technologies at affortdable prices, with services delivered at TCS' known global quality processes," TCS Asia Pacific head Girija Pande was quoted as saying.
TCS China would focus on manufacturing, telecom as well as government sectors, it said, adding the company would also concentrate on key technologies with Centre of Excellence in Microsoft.PAGE_BREAK
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