2.3.2 TCS Established in 1968, Tata Consultancy Services has grown to its current position as the largest IT services firm in Asia based on its record of outstanding service, collaborative partnerships, innovation, and corporate responsibility. TCS is headquartered in Mumbai, and operates in more than 50 countries and has more than 170 offices across the world. In the year 1979 it established its first office in New York City. It is the world's first organization to achieve an enterprise-wide Maturity Level 5 on quality improvement models, CMMI and P-CMM, using the most rigorous assessment methodology, SCAMPISM. TCS Division of Tata Sons Ltd was transferred to TCS as on April 2004 for a consideration of Rs.2300 crores and the company went to public in the same year 2004. The company's major areas of business are comes under five services, such as Consulting, Information Technology Services, Business Process Outsourcing, Infrastructure Outsourcing, Engineering and Industrial Services which covers the industries namely Banking and Financial Services, Energy and Utilities, Government, Healthcare and Life Sciences, Hi Technology, Insurance, Manufacturing,
Retail,
Telecom,
Travel
and
Hospitality.
During the year 2004-05 the company has acquired WTI Advanced Technology LTD and TCS Business Transformation Solutions Ltd (Previously, Phoenix Global Solutions (India) LTD), subsequently these two companies have turned as the subsidiaries of the company. In between 2005-06, the year covers the acquisitions of three companies Comicrom S.A., Chile, Financial Network Services (Holdings) Pty Ltd, Australia (FNS) and Swedish Indian IT Resources AB (SITAR). Tata Infotech Limited and three wholly owned subsidiaries of the company, viz Airline Financial Support Services (India) Ltd (AFSL), Aviation Software Development Consultancy India Ltd (ASDC) and TCS Business Transformation Solutions Ltd (TCS BTS) have amalgamated with the company on April 2005. Apart from this the company made strategic alliances during the year with Diligenta Limited for Life Insurance business and entered into a Joint
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