India, Nov. 21 -- TCS has entered into a strategic partnership with global private equity firm TPG for its upcoming data centre venture, with a joint equity commitment of about Rs 18,000 crore.
Under the agreement, TPG will be the sole equity partner and invest USD 1 billion (approximately Rs 8,820 crore) in TCS's AI-focused data centre business, branded 'Hypervault'. The PE firm will hold a 27.5%–49% stake in the venture.
This move follows TCS's announcement 40 days ago to foray into the data centre space with plans to build a 1 GW capacity, requiring a total investment of USD 6.5 billion (around Rs 57,600 crore).
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....