As per reports, the IT major company TCS bagged an outsourcing contract valued at $2.25 billion. Rajesh Gopinathan, CEO of the company claims it to be the largest deal ever won by any player in the industry.
The multi-billion dollar contract has been signed with Nielson thus renewing the earlier tie-up between the two companies. Nielsen, headquartered in the UK, is the data, information and measurement company.
In 2007, TCS entered into a 10-yeat contract with Nielson worth $1.2 billion. The contract in the year 2013 got extended for a further time period of 3 years until 2020 with deal size also doubled to $2.5 billion.
The deal assures the IT major a business of $320 million from Nielsen from 2017-2020 on a yearly basis. The statement by the TV ratings measurement company said, "The term of the Agreement has been extended for an additional five years, so as to expire on December 31, 2025, with three one-year renewal options granted to Nielsen".
We experienced robust volume growth in Q2, driven by good demand across multiple industry verticals. Strong, broad-based client metrics this quarter demonstrates our increasing success with newer customers. Large deal wins this quarter, a good pipeline, and bottoming out of the retail sector softness positions us well," Rajesh Gopinathan added. "We have been using the Internet of Things and Artificial Intelligence technologies to optimize our clients' systems," Rajesh Gopinath said