#Mumbai

The country’s largest IT services company TCS on Thursday announced a tie-up with private equity major TPG for its upcoming data centre business, in which both the partners aim to invest Rs 18,000 crore.

TPG will invest $1 billion or around Rs 8,870 crore in the AI data centre business christened as ‘Hypervault’, and hold a stake between 27.5-49% in the venture. “Bringing in TPG as a strategic investment partner will help TCS drive stronger returns to its shareholders, reduce its capital outlay, and create long-term value for the data centre platform,” a statement said. TCS had last month announced its entry into the data centre play, and plans to invest up to $6.5 billion to create over 1GW of capacity. PTI

See Full Page