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TCS, SBI form JV

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DQI Bureau
New Update

Tata Consultancy Services and State Bank of India have

announced the formation of a joint venture to provide advanced technology

solutions and domain consulting for the banking and financial services sector.

Once incorporated, the JV will be known as C-Edge Technologies and will have an

authorized capital of Rs 40 crore. The JV will have equity participation from

TCS and SBI in the ratio of 51:49 respectively with equal participation on the

board of directors. The JV will develop high-value niche assets and solutions by

leveraging domain and technology capabilities of the two parent companies.

Following TCS' recent acquisition of FNS, a banking products company from

Australia, the new JV will also play a key role in deploying FNS products in the

role of a preferred systems integrator and leverage the experience both

organizations have gained in the core-banking roll-out in the State Bank group.

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