TCS To Invest Over $300 Million In Arizona; Stock Edges Lower

will invest more than $300 million over the next five years and hire over 220 people by 2023 "to meet the digital transformation needs of its customers," TCS said in a regulatory filing to the stock exchanges

TCS To Invest Over $300 Million In Arizona; Stock Edges Lower

At 12:55 pm, TCS shares were trading at Rs 3,201.50, down 0.39 per cent, on the BSE

Tata Consultancy Services (TCS) has announced plans to expand its operations in Arizona in the United States. It will invest more than $300 million over the next five years and hire over 220 people by 2023 "to meet the digital transformation needs of its customers,"  TCS said in a regulatory filing to the stock exchanges. At 12:55 pm, TCS shares were trading at Rs 3,201.50, down 0.39 per cent, on the BSE.

"We are delighted to expand our presence in Arizona, tap local talent to help clients in their transformation journeys, and contribute to the growth of the technology industry here," Surya Kant, Chairman of North America, TCS, said.

TCS will also expand the reach of its STEM and Computer Science education programs in Arizona by increasing teacher training and online content for students over the next two years. "We also look forward to expanding our community engagement through our STEM initiatives, to help nurture the next generation of local technology leaders in our schools," Surya Kant, Chairman of North America, TCS added.

TCS is among the top two US recruiters of IT services talent, hiring more than 21,500 employees in the past five years. It has more than 780 employees in Arizona alone catering to clients in the banking, manufacturing, healthcare and utilities domains.