GE exits Riyadh all-women BPO; TCS takes full control
GE is set to exit its all-women business process outsourcing firm that is a partnership with IT consulting company TCS, making the latter take full ownership of the Riyadh-based BPO provider.
Since TCS already holds a 76 per cent stake compared to GE’s 24 per cent, just over $12,000 has been agreed for complete ownership of the center, which makes up TCS’ entire delivery capability in Saudi Arabia.
In a regulatory giling, TCS said, “Given GE’s planned exit from this partnership, the partners have entered into a definitive agreement subject to closing conditions for transfer of GE’s stake in the venture to TCS.” The deal is expected to close within three to six months.
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