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    TCS   INE467B01029

TATA CONSULTANCY SERVICES LTD.

(TCS)
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Delayed NSE India Stock Exchange  -  07:25 2022-08-19 am EDT
3385.75 INR   +0.13%
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TCS Partners with QIAGEN in Driving its Cloud Transformation Strategy

06/17/2022 | 07:27am EDT

Tata Consultancy Services Will Design, Build and Manage a Future-Ready Digital Core to Enhance Collaboration Among Stakeholders and Improve Customer Experience.

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been selected by QIAGEN, a leading global provider of Sample to Insights solutions in life sciences and molecular diagnostics, as the strategic partner for its cloud transformation journey.

QIAGEN is investing in an ambitious cloud transformation to address new challenges of the post-pandemic era. It partnered with TCS for its deep contextual knowledge of the company's infrastructure, applications, and systems, vast experience in the life sciences industry as well as its proven technology expertise. TCS will migrate the company's workloads from its legacy data center to Microsoft Azure and build a new scalable digital core as a foundation for better ways of working.

TCS' team of cloud solution experts will work closely with QIAGEN to design, implement and manage a cloud-first model. The new digital core will help improve internal and external collaboration, enabling greater innovation, and enhanced customer experience. Additionally, it will improve operational agility and resilience, drive efficiency, reduce QIAGEN's carbon footprint and support its journey to net zero.

'QIAGEN has started its cloud transformation journey with the firm belief that cloud computing can be a key enabler of future business growth. A strong digital core will help QIAGEN to deliver innovation in a faster, more cost-efficient and secure way. TCS has been a valuable strategic partner on this journey so far who will help us succeed in this cloud transformation,' said Josefine Danneberg, Senior Director, Head of Cloud Center of Excellence, QIAGEN.

'QIAGEN is a valued TCS customer, and we are thrilled to enter into this partnership to implement and manage their cloud strategy with Azure as the hyperscaler. The new digital core will support better business outcomes, greater sustainability, and drive innovation for QIAGEN's customers in life sciences and molecular diagnostics. We look forward to working alongside QIAGEN to support the company in achieving its vision of 'making improvements in life possible',' said Vikas Jain, Global Head, Life Sciences and Healthcare, Enterprise Growth Group, TCS.

TCS has been working closely with QIAGEN since 2012, managing the company's IT services and digital transformation across key business areas. With an in-depth awareness of industry standards, extensive list of Microsoft Gold Competencies and advanced technology specializations, TCS helps to design and build trusted cloud solutions that are flexible and adaptable to customers' requirements.

TCS' sustained investments in research and innovation have resulted in an industry leading portfolio of frameworks, accelerators, products, and platforms that can significantly speed up customers' cloud transformation journeys.

Present in Germany since 1991, TCS currently partners with over 100 leading German corporations in their growth and transformation journeys, including 23 of the stock index DAX40.

TCS has been consistently ranked number one for customer satisfaction in an independent survey of CxOs at top IT spending European organizations by Whitelane Research.

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 592,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com.

About QIAGEN

QIAGEN N.V., a Netherlands-based holding company, is the leading global provider of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. Our sample technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software and knowledge bases interpret data to report relevant, actionable insights. Automation solutions tie these together in seamless and cost-effective workflows. QIAGEN provides solutions to more than 500,000 customers around the world in Molecular Diagnostics (human healthcare) and Life Sciences (academia, pharma R&D and industrial applications, primarily forensics). As of March 31, 2021, QIAGEN employed more than 6,000 people in over 35 locations worldwide. Further information can be found at http://www.qiagen.com.

TCS media contacts:

Asia Pacific

Email: wenjian.lin@tcs.com

Phone: +65 9695 9948

Australia and New Zealand

Email: Kelly.ryan@tcs.com

Phone: +61 422 989 682

Canada

Email: tiffany.fisher@tcs.com

Phone: +1 416 456 7650

Europe

Email: joost.galema@tcs.com

Phone: +31 615 903387

India

Email: vanshika.sood@tcs.com

Phone: +91 22 67789098

Email: saxena.kritika@tcs.com

Phone: +91 22 6778 9999

Middle East & Africa

Email: s.hasneen@tcs.com

Phone: +00971567471988

Japan

Email: douglas.foote@tcs.com

Phone: +81 80 2115 0989

Latin America

Email: alma.leal@tcs.com

Phone: +521 55 2095 6098

UK

Email: peter.devery@tcs.com

Phone: +44 20 3155 2421

USA

Email: james.sciales@tcs.com

Phone: +1 917 981 7651

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
QIAGEN N.V. -0.75% 47.08 Delayed Quote.-14.74%
TATA CONSULTANCY SERVICES LTD. 0.13% 3385.75 Delayed Quote.-9.55%
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Analyst Recommendations on TATA CONSULTANCY SERVICES LTD.
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Financials
Sales 2023 2 195 B 27 465 M 27 465 M
Net income 2023 420 B 5 254 M 5 254 M
Net cash 2023 398 B 4 983 M 4 983 M
P/E ratio 2023 29,5x
Yield 2023 2,42%
Capitalization 12 389 B 155 B 155 B
EV / Sales 2023 5,46x
EV / Sales 2024 4,93x
Nbr of Employees 592 195
Free-Float 27,7%
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Mean consensus HOLD
Number of Analysts 41
Last Close Price 3 385,75 INR
Average target price 3 479,66 INR
Spread / Average Target 2,77%
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Managers and Directors
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
Samir Seksaria Chief Financial Officer
Natarajan Chandrasekaran Non-Executive Chairman
K. Ananth Krishnan Chief Technology Officer
N. Ganapathy Subramaniam COO & Non-Independent Executive Director
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