One of India’s biggest IT services company, Tata Consultancy Services (TCS) renews $2.25 Billion Outsourcing Contract with Nielsen, a television rating measurement firm.
This partnership, which was signed in October is a renewal of TCS’s existing collaboration with Nielsen. Two giants agreed for the deal 10 years ago, which was for $1.2 billion.
As the deal has been extended for an additional five years it will now expire on December 31, 2025. Nielsen clarified in a regulatory filing to the US Securities and Exchange Commission (SEC) that it will have three one-year renewal options granted to Nielsen.
As per the deal, Nielsen will take services from TCS from the Effective Date through the remaining term of the Agreement (the ‘Minimum Commitment’) for $2.25 billion.
In a statement, the company said that it is including a commitment to purchase at least $320 million in services per year from 2017 through 2020, $186 million in services per year from 2021 through 2024, and $139.5 million in services in 2025.
According to the partnership deal, TCS will globally provide Nielsen with professional services relating to IT – including application development and maintenance – BPO, client service, knowledge process outsourcing, management sciences, analytics, and financial planning.
