Jan 16: Tech major Tata Consultancy Services Ltd on Tuesday said that it has entered into a new agreement with M&G Prudential, the UK and European savings and investments business of Prudential Plc, to digitally transform the latter’s business and deliver enhanced service for its UK savings and retirement customers.
According to the company, the value of this agreement exceeds £500 million ($690 million) over 10 years and covers the support of over 4 million customer policies.
Commenting on the development, John Foley, Chief Executive of M&G Prudential, “strategic partnerships are an important part of our five-year plan to improve customer outcomes through the £500 million capital investment our shareholders are making in the business. This partnership with TCS is an essential element of our strategy to create a digitally-enabled business. Our customers will receive a better service-day in, day out-as a result and our colleagues will be better equipped to provide that service.”
TCS shares surged nearly 4% to touch a new 52-week high of Rs 2,860 on BSE intraday today after the news came in. The Re 1 face value shares closed trading at Rs 2,850.85, up 3.77% from the previous closing of R 2,747.20.