(July 24, 2006) – Beijing, China – Tata Consultancy Services Asia Pacific Pte, a subsidiary of TCS, announced that it has signed a Shareholder Promoters Agreement with three Chinese firms to establish China's top industrial scale software company which will provide IT solutions and services to clients in the global and Chinese domestic market. TCS will have the majority equity stake and management control of the joint venture company and Microsoft will participate as a strategic investor as soon as the joint venture is established. The JV, to be located in Beijing's Zhongguancun Software Park, will begin operations in September 2006. Tata Consultancy Services (China) Co., will be located in Beijing's Zhongguancun Software Park (z-Park), is expected to provide IT services and solutions to China's domestic market as well as major markets particularly Japan as well as the rest of Asia-Pacific region, US, and Europe. According TCS management, the key objective of this global initiative is to build the new venture as a role-model for the growing Chinese software industry. The Shareholder Promoters Agreement and other relevant commercial documents were signed by representatives of the partners in Beijing today. Officers from National Development and Reform Commission of PRC, Beijing Municipal Development and Reform Commission, Tianjing Municipal Development and Reform Commission were present on the occasion to witness the signing ceremony.
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