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Billion Dollar Stock-in-Service Barter Deal By India’s TCS Software Giant

Tata Consultancy Services (TCS) has fashioned a 3 to 5 year agreement with German telecommunication company T-System, which is a unit of Deutsche Telekon.

(T-System employees 55,000 and recorded $16.61 billion in revenue last year. TCS has a presence in 34 countries and generated revenues of $2.97 billion in fiscal year ending March 2006.)

TCS will take an ownership stake of 10% in exchange for providing $1 billion in services (the value of the contract).

The stock-in-service barter transaction will provide predictability in the long term for TCS and gives T-Systems the comfort of getting adequate attention in terms of manpower for the job.