The share price of Tata Consultancy Limited rose by 2.39% on June 21, after it filed a press release which stated that Xerox signed a deal with TCS to transform its IT Technology using Cloud and GenAI. 

This press release highlights the recent agreement between Xerox and TCS to leverage cloud technology and GenAI for the transformation of Xerox’s IT infrastructure. The official dissemination of this press release will take place shortly, TCS in its recent filing on the stock exchange.

The deal will showcase the enterprise-wide potential of cloud and generative AI to improve business and IT. TCS, a leading global company in IT services, consulting, and business solutions, has expanded its important partnership with Xerox.

TCS will bring together Xerox’s technology services to enhance business outcomes. They will transfer complex older data centres to the Azure public cloud. Furthermore, they will implement a cloud-based Digital ERP platform to modernize business processes and integrate generative artificial intelligence (GenAI) into operations to support sustainable growth. TCS will also design a new flexible, cloud-focused operational approach for Xerox.

TCS will create an AI-first enterprise platform for Xerox, using its service practices such as AI.Cloud, Enterprise Solutions (including TCS CrystallusTM), and Cognitive Business Operations (including TCS CognixTM).

This announcement shows that TCS continues to be strong in the US. The US is the biggest market for the company, with almost 50,000 employees and 19 delivery centers.

Xerox is based in the US and is a leading company in digital printing technology and solutions. They operate in almost 145 countries and serve a wide range of clients including small and medium-sized businesses, graphic communications companies, government entities, educational institutions, and many Fortune 500 companies.

At 1:16 pm, the shares of TCS were trading 0.78% higher at Rs 3,816.90 on NSE.