Tata Consultancy Service, India's largest IT services exporter announced Saturday that it has gained 100% control of the Brazil-based joint venture company `TCS do Brasil' by acquiring its partner Group TBA's 49 per cent stake for $33.4 million. In 2002, TCS had partnered Group TBA for a JV on 51:49 basis for establishing software centers in Sao Paulo and Brasilia .It provides services to over 30 clients including ABN Amro, Goodyear, Equifax and Brasil Telecom.For the year ended March 31, 2007, TCS do Brasil recorded revenues of $ 66.5 million and employed over 1,700 persons.
Source : RTT News