Tata Consultancy Services (TCS) saw its shares rise by more than 2 percent following its announcement of a partnership with Xerox aimed at transforming the latter’s IT technology using cloud and generative AI.
According to a filing with the stock exchange, TCS has expanded its strategic collaboration with Xerox through an extensive transformation program. This initiative is designed to accelerate Xerox’s transition to a simplified, services-oriented, software-driven organization.
Headquartered in the US, Xerox is a global provider of digital print technology and related solutions, serving clients across nearly 145 countries, including small and medium-sized businesses, graphic communications firms, governmental bodies, educational institutions, and many Fortune 500 companies.
Under the terms of the agreement, TCS will streamline Xerox’s technology services to enhance business outcomes, migrate complex legacy data centers to the Azure public cloud, implement a cloud-based Digital ERP platform for business process transformation, and integrate generative artificial intelligence (GenAI) to foster sustainable growth.
TCS will develop a new agile, cloud-first operating model tailored for Xerox, leveraging its advanced service offerings such as AI.Cloud, Enterprise Solutions (including TCS CrystallusTM), and Cognitive Business Operations (including TCS CognixTM). Additionally, TCS will establish an AI-first enterprise platform for Xerox in collaboration with industry-leading hyperscalers and AI solution providers.
As of 10:27 am, TCS shares were trading 1.8 percent higher at Rs 3,856.25 on the National Stock Exchange (NSE). Over the past year, the stock has gained 18 percent, while the broader Nifty index has delivered returns of approximately 25 percent during the same period.
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