Xerox pencils $355 million as tech spends for 7-year TCS deal
Tata Consultancy Services, digital printing company Xerox said it has a $355 million tech spending commitment under the seven-year contract.
In a regulatory filing in the US, Xerox also disclosed its spending commitment with Microsoft at $125 million and with SAP at $45 million for the same period under this multi-party agreement.
TCS did not respond to an email seeking comment sent on Monday morning.
In June, TCS said that it expanded its partnership with Xerox to execute an end-to-end transformation programme, without disclosing the deal value. The Mumbai-based company has been providing business processing outsourcing services in support of Xerox’s global finance and accounting organisation.
In its regulatory filing last week, Xerox said it entered into a seven-year agreement with TCS for consolidating its technology services to improve business outcomes, migrate legacy data centres to the cloud, deploy a cloud-based digital ERP platform and incorporate generative artificial intelligence (GenAI) into operations to help drive sustainable growth.
In connection with the TCS deal, Xerox also entered into seven-year agreements with SAP, which will provide a cloud-based digital ERP platform, and Microsoft for its Azure cloud platform services, The US-based company said.
TCS will develop a new cloud-first operating model and build an AI-first enterprise platform for Xerox.
The expanded deal came months after Xerox revealed its intention to reduce its workforce by 15% as part of a “reinvention” strategy. It also
