TCS to invest $300 m in Arizona; emerges top IT services firm by revenue in UK

TCS on Wednesday announced that it is planning to invest over $300 million by 2026 in Arizona even as the IT services company has been ranked number one by revenue in the UK.

The investments in Arizona will be done to expand operations until 2026. The company will hire more than 220 employees in the state by 2023.

These updates came a week after the company announced its first quarter results for FY22. While markets abroad grew steadily, business in India declined 14.1 per cent. As uncertainty around the third wave still looms in the country, TCS plans to strengthen and future-proof its position in the US and the UK.

In Arizona, TCS is expanding the reach of its STEM and Computer Science education programmes by increasing teacher training and online content for students over the next two years.

TCS’ flagship Phoenix Business Center, one of 30 TCS facilities in the US, serves more than 50 customers across Arizona.

With more than 780 employees in the state, the next 220 employees hired will be based at the Phoenix center as well as in client offices around the state. TCS operates across banking, manufacturing, healthcare, and utilities sectors, manage their IT operations leveraging technologies such as artificial intelligence, machine learning, and enterprise software to achieve their transformation objectives.

Arizona Governor Doug Ducey said, “TCS has a global reputation for excellence. Their selection of Arizona for this significant expansion demonstrates the strength of the Phoenix market and vitality of our local businesses. We are also grateful for TCS’ continued support of local STEM education, which has been a priority in Arizona. TCS has been a fantastic private sector partner and we look forward to their continued success.”

UK market
Meanwhile, in the UK, TechMarketView said TCS is the top supplier of software and IT services to the UK market by revenue. TCS held the second position on the same list of TechMarketView last year. TechMarketView’s report was compiled through a detailed analysis of the UK revenues of over 200 publicly quoted and privately held companies.

TCS currently employs over 18,000 people in 30 locations around the country and intends to recruit an additional 1,500 employees in 2021. Its diverse workforce represents 54 nationalities, of which women make up 28 per cent, much higher than the average 17 per cent in the overall UK IT sector. TCS upskilled over 90 per cent if of the UK staff in the past two years. The Hindu BusinessLine