TCS, IMF in talks for outsourcing deal

Global software and services major Tata Consultancy Services (TCS) is in the last stages of finalising a multi-million outsourcing contract with the International Monetary Fund (IMF). Under the deal, the IMF will offshore some of its back-office work to the Indian company.

"The entities have reached the final stages of negotiations and if they go through, a deal is expected to be announced in the next couple of weeks. They are now finalising the nitty-gritty of the deal," sources close to the development said.

TCS spokesperson declined to comment. The exact size of the contract could not be confirmed.

The IMF is believed to be developing an internet protocol-based network and TCS is expected to lend its expertise on it. TCS is also believed to be doing its back-office operations for the international lender and is likely to set up a new wing for the IMF's operations.

Earlier, TCS had bagged a multi-year $100 million outsourcing contract from

Kimberly Clark, a US-based company. Kimberly Clark is the manufacturer of Kleenex tissues and Huggies diapers.

TCS, along with Satyam Computer Services, had also bagged a seven-year contract from Australian airlines Qantas Airways. TCS had said the expected value of the contract "" to provide a range of IT application, transformation and maintenance services to Qantas "" is around A$120 million).

The company had also bagged an interior design contract from US airframe manufacturer Boeing Company and will work closely with its customer to design the interiors of new aircraft.

Separately, the Tata group company is also setting up an airline innovation laboratory in Chennai to showcase mock-up interiors of aircraft. The laboratory will enable customers to test software used by the airline industry.