Tuesday November 3, 04:00 PM

TCS Cardiff deal worth multi-millions - source

BANGALORE (Reuters) - Tata Consultancy Services (TCS.NS : 670.45 -17.45)' contract with Cardiff City Council for technology services is a multi-million dollar deal that will run run over 15 years, a company source said on Tuesday.

Under the deal signed last week, Tata Consultancy will provide a host of IT services for faster and efficient delivery of services in Cardiff.

Tata Consultancy and its rivals such as Infosys Technologies (INFOSYS.BO : 2328.3 -58.55) and Wipro (WIPRO.NS : 622.6 -6.7) are aggressively vying for deals in markets such as Europe and Asia Pacific to cut their dependence on the U.S., which brings in more than half the sector's revenue.

Tata Consultancy, a part of the diversified Tata Group that spans commodities autos and services businesses, last month beat forecasts with a 29 percent rise in quarterly net profit helped by demand from recession-hit financial customers.

(Reporting by Sumeet Chatterjee; Editing by John Mair)

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