India's largest software services exporter, Tata Consultancy Services, has put in a bid valued at $500 million to acquire a controlling stake in Lufthansa IT systems, the captive information technology unit of the Frankfurt-based airline, two people said on condition of anonymity.
TCS is in talks to negotiate a multi-year contract from Lufthansa which could yield revenues in excess of $2 billion for the company according to people familiar with the bidding process.
Credit Suisse is advising TCS on its bid for Lufthansa IT systems.
A spokesperson for TCS declined comment for this story. Claudia Lange, a spokesperson for Lufthansa also declined comment.
One of the people quoted above said Hewlett Packard-EDS and IBM were also in the fray to buy a stake in the unit but TCS may be able to propose a structure that would make it compelling for Lufthansa to consider them as a favoured partner. a
TCS is in talks to negotiate a multi-year contract from Lufthansa which could yield revenues in excess of $2 billion for the company according to people familiar with the bidding process.
Credit Suisse is advising TCS on its bid for Lufthansa IT systems.
A spokesperson for TCS declined comment for this story. Claudia Lange, a spokesperson for Lufthansa also declined comment.
One of the people quoted above said Hewlett Packard-EDS and IBM were also in the fray to buy a stake in the unit but TCS may be able to propose a structure that would make it compelling for Lufthansa to consider them as a favoured partner. a
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