TCS invests $8.7 in a Brazil pact hoping to find new customers in South America

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Tata Consultancy Services on Wednesday, October 30 said it has signed a 10-year strategic partnership with Brazil-based Insper. The pact includes an investment of 50 million Brazilian Real (about $8.7 million) by the India's biggest software maker. Insper is a leading higher education and research institution in Brazil. TCS will support its Brazilian partner in initiatives like reducing the down time in offshore oil rigs, satellite-based geo sensing to enhance crop yields in Brazil, and using artificial intelligence to accelerate new drug development.

The TCS-Insper collaboration will include development of technology prototypes, academic research work, organisation of seminars, hackathons and technology talks using the TCS Pace methodology for innovation at scale, the company statement said.

The target customers for the collaboration include South American companies in banking, insurance, financial services, healthcare, life sciences, manufacturing, energy and resources, among others, TCS' filing with the stock exchanges added. TCS shares were trading 0.66% higher at ₹4,120 apiece at 11.30 am on Wednesday, October 30. The stock has gained 21.43% in the past year.

Also Read: Explained — Why shares of Force Motors surged 20% on Wednesday

First Published: Oct 30, 2024 11:33 AM IST

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TCS invests $8.7 in a Brazil pact hoping to find new customers in South America

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