TCS Extends its contract worth $2.25 billion with Nielsen
Written by : SMTV24x7 | Fri, Dec 22, 2017, 03:18 PM
Washington Dec 22: In a Major boost for Tata Consultancy Services (TCS) had extended its contract with Nielsen, a television rating measurement firm. The net worth of the contract is $ 2.25-billion.
The contract signed in October is a renewal of TCS' existing collaboration with Nielsen. The two companies had struck a 10-year deal in 2008 for USD 1.2 billion, which was expanded to USD 2.5 billion in 2013.
According to the deal signed 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.
The Tv rating firm in its filing to US SEC has said that "Nielsen has committed to purchase services from TCS from the Effective Date through the remaining term of the Agreement (the 'Minimum Commitment') in the amount of USD 2.25 billion, including a commitment to purchase at least USD 320 million in services per year from 2017 through 2020, USD 186 million in services per year from 2021 through 2024, and USD 139.5 million in services in 2025."
TCS would provide the Firm with professional services relating to IT including application development and maintenance BPO, client service knowledge process outsourcing, management sciences, analytics, and financial planning.