Tata Consultancy Services Limited[5] (TCS) is an Indian multinational technology company specializing in information technology services and consulting. Headquartered in Mumbai, it is a part of the Tata Group and operates in 150 locations across 46 countries.[6] As of 2024, Tata Sons owned 71.74% of TCS, and close to 80% of Tata Sons' dividend income came from TCS.[7]
TCS ranked seventh on the Fortune India 500 list for 2024.[8] In September 2021, TCS recorded a market capitalization of US$200 billion, becoming the first Indian IT company to achieve this valuation.[9][10][11] In 2012, it was the world's second-largest user of U.S. H-1B visas.[12]
History
1968–2000
Tata Consultancy Services Limited, originally known as Tata Computer Systems, was established in 1968 by Tata Sons Limited.[13] The company's initial contracts involved providing punched card services to its sister company TISCO (now Tata Steel), developing an Inter-Branch Reconciliation System for the Central Bank of India,[14] and offering bureau services to the Unit Trust of India.
In 1975, TCS implemented an electronic depository and trading system named SECOM for Swiss company SIS SegaInterSettle. It also developed System X for the Canadian Depository System and automated the Johannesburg Stock Exchange.[15]
Acquisitions
Corporate affairs
Geographical presence
As of September 2023, TCS had a total of 51 subsidiary companies in 55 countries,[77][78] and more than 500 offices globally.[79] In India, TCS has multiple delivery centers in major cities, including Mumbai, Bangalore, Chennai, and Hyderabad.[80] It has significant operations in key markets such as the United States, United Kingdom, Canada, Australia, and Singapore.[81][82]
Business divisions
Products and platforms
In 2021, the software products and SaaS-based platforms business of TCS generated about $3 billion in revenue, accounting for 12–15% of the company's total revenue, according to COO N. Ganapathy Subramaniam.[91] Its notable products included TCS BaNCS, TCS Cognix, TCS Quartz, TCS HOBS, TCS MasterCraft, and TCS OmniStore.[92]
In 2015, TCS started an enterprise software venture called Digitate, based in Pune and Santa Clara, which released its artificial intelligence platform Ignio the same year.[93][94]
TCS BPS
Sponsorships
TCS is the title sponsor for Toronto Waterfront Marathon, London Marathon, Amsterdam Marathon, Mumbai Marathon, Lidingöloppet, and New York City Marathon[106][107] and one of the sponsors of City2Surf, Australian Running Festival, Berlin Marathon, Chicago Marathon, and Boston Marathon.[108] In India, it is the title sponsor of World 10K held in Bangalore every year.[109]
TCS has been a sponsor of the Indian Premier League team Rajasthan Royals since 2009.[110] It also provides the team with technology to help in the analysis of player performance, simulation, and use of
Controversies
United States litigation and class action lawsuits
In 2006, the US law firm Lieff Cabraser filed a class action lawsuit against TCS on behalf of non-US citizens employed in California between 2002 and 2005. The plaintiffs alleged they were compelled to endorse their federal and state tax refunds to the company and faced unauthorized deductions from their US pay. In February 2013, TCS agreed to a $30 million settlement, which was granted final approval by Judge Claudia Wilken of the US District Court for the Northern District of California in July 2013.[115][116]
TCS has also faced significant litigation regarding intellectual property. Following a long-running legal battle, a US federal court upheld a massive financial judgment against TCS in late 2023 for misappropriating trade secrets from Computer Sciences Corp (now DXC Technology) to develop its BaNCS software platform. This followed a similar high-profile trade secret lawsuit filed by Epic Systems, which resulted in a $140 million punitive penalty against TCS in 2020.[117]
Beginning in 2024, TCS became the subject of multiple putative class-action lawsuits and a formal probe by the US Equal Employment Opportunity Commission (EEOC) regarding discriminatory hiring and firing practices.
See also
- List of IT consulting firms
- List of largest employers in India
- Information technology in India
- List of Indian IT companies
External links
References
- {{citeweb|title=TCS Q4FY26|url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/da445746-06b9-4078-a71b-cc48f97fbc93.pdf}}^
- Anubhav Mukherjee. TCS FY26 annual highlights^
- Nikhil Agarwal. Tata Sons confirms selling 2.34 crore shares of TCS in block deal The Economic Times, 21 March 2024, retrieved 13 September 2024^