TCS eyes up to 150 deals in financial solutions
Tata Consultancy Services, the country's biggest software exporter, today said it is eyeing up to 150 deals ranging from USD 5 million to USD 200 million in the financial solutions space over the next 12-18 months.
By PTI |
BANGALORE: Tata Consultancy Services, the country's biggest software exporter, on Monday said it is eyeing up to 150 deals ranging from USD 5 million to USD 200 million in the financial solutions space over the next 12-18 months.
"Anywhere between 100-150 deals are likely to be in the pipeline in the next 12-18 months in these markets (Asia Pacific, the Middle-East and Latin America) alone," President of TCS' Financial Solutions Business, N G Subramaniam, said.
In addition, the number of deals in Europe and US could be smaller but of higher value, he told reporters here in the presence of TCS CEO and Managing Director S Ramadorai.
He said these deals covering areas like capital markets, insurance and retail financial services, can specifically be targeted by TCS Financial Solutions' product portfolio under the brand name TCS BaNCS.
Subramaniam said of the 100-150 addressable deals, 20 per cent are expected to be in the range of USD 30-200 million. The remaining 80 per cent deals could be in the bracket of USD 5-10 million.
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TCS Financial Solutions, a business unit of TCS, clocked a revenue of USD 170 million in 2006-07, a year-on-year growth of 66 per cent. Ramadorai said the BFSI (Banking, Financial Services, Insurance) segment contributes more than 40 per cent of TCS' total revenues. Subramaniam said TCS Financial Solutions unit has 2,720 professionals and it has plans to add another 500 in this division across the globe by March-end.
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