TCS Bags Multi-Year Deal From Sweden's SKF

• TCS won a multi-year, multi-million dollar SKF deal to modernise IT and build an AI-powered digital enterprise.

• TCS will provide end-to-end managed services across applications, infrastructure, data, security and connectivity globally.

• Both CEOs said they will use AI and data-driven intelligence for an agile enterprise supporting sustainable growth.

The country's largest IT services company TCS on Wednesday announced that it has bagged a multi-year deal from Swedish bearings maker SKF.

The financial details were not shared, but people in the know called it a multi-year, multi-million dollar engagement.

The deal, which comes at a time when concerns are being raised about the IT sector story following the advent of AI, involves modernisation of SKF's existing IT landscape.

TCS will enable SKF to build a future-ready digital enterprise, leveraging AI to reimagine industrial manufacturing business, a statement said.

The Indian IT major will provide end-to-end managed services across applications, infrastructure, data, end-user services, security, and connectivity for SKF across the globe.

"Together, we are applying data-driven intelligence and AI to create an agile enterprise that can adapt to technological and market change while supporting long-term sustainable growth and competitiveness," TCS' chief executive and managing director K Krithivasan said.

SKF's chief executive Rickard Gustafson said the next decade of industrial manufacturing will be defined by how deeply companies integrate AI into how they design, produce, and serve.

The TCS scrip was trading 0.22 per cent down at ₹2,271.75 on the BSE as against a 0.13% correction on the benchmark.