TCS bags USD2bn outsourcing contract with Aegon unit

Global IT consultancy and outsourcing giant Tata Consultancy Services (TCS) has sealed an USD2bn outsourcing deal from the Transamerica Life unit of Dutch insurer Aegon NV. The deal is the second largest outsourcing deal won by TCS in the past one month, and could be bigger than the USD2.25bn deal with Nielsen Holdings. Mumbai-based TCS won the Transamerica contract in competition with at least three other global outsourcing companies, including Cognizant Technology Solutions Corp., according to a TCS executive who spoke on condition of anonymity. Under the Transamerica-TCS contract, the deal value will be unevenly spread over a decade-long contract period.