Indias Tata Consultancy Services (TCS) is looking to buy Vertex, the outsourcing arm of U.K.s United Utilities, in a deal valued at $800 million to one billion, the Times of India reported citing company sources.
Vertex the company which has interests in back-office functions like customer services, human resources, procurement, finance and accounting is perceived by the parent company as a non core business, and hence the decision to sell.
TCS already has an existing relationship with United Utilities, with the latter having signed a multiyear IT maintenance contract, the newspaper noted.