Indian services firm Tata Consultancy Services (TCS) has won its largest deal to date announcing Thursday a five-year contract with the Dutch bank ABN AMRO for application support.
TCS also has the right to bid for application development projects under the deal which is worth an estimated $326 million (EUR 200 million) over the next five years.
TCS will manage most of ABN AMRO's application support, covering operations in the Netherlands, Brazil and its private client business globally. The company will use its development centre in India which has more than 500 consultants.
Executive vice president and head of TSC global operations N Chandrasekaran said the company's strategy to grow in Europe and other markets is beginning to bear fruit.
"We wanted to look outside the US and this deal vindicates our stance; this is the largest deal that any Indian company has signed proving that our capabilities are being recognized around the world," he said.
TCS' operations grew more than 60 percent in Europe last year, a company statement said.