TCS wins Rs 500 crore contract from Thomson Reuters

Tata Consultancy Services (TCS) has won an around Rs 500-crore contract, which involves infrastructure management services and application development, from mass media and information company Thomson Reuters. Thomson Reuters’ annual IT outsourcing spend is around $500 million (Rs 3,600 crore) and it counts TCS, IBM, Microsoft and SAP as its key IT partners. Wipro and IBM, along with Mphasis, were strong contenders for the deal. Some two years ago, Thomson Reuters teamed up with Mphasis to offer wealth management help for its brokerage-processing solutions Beta.

An email sent to TCS on the contract did not elicit a response. A Thomson Reuters spokesperson said, “We do not comment on future business plans.”

Canada-based Thomson Reuters had created an enterprise and technology operations (ET&O) group some two years ago to drive transformation. Thomson Reuters has a technology centre in Ontario in Canada and by this year end, the centre is expected to have 1,500 employees, according to its annual report. ET&O unifies more than 10 functions (technology functions, operations centres, real estate and sourcing) into a single enterprise team. Thomson Reuters’ annual report showed that in 2017 investments included capital expenditure of $240 million (it was $247 million in 2016), which reflects continued investments in its products and technology infrastructure.


In comparison, the BBC has spent over $3 billion over five years, including fixed payments on long-term outsourcing arrangements.