TCS bags 10-year deal from Brazilian education firm Insper

India’s largest IT services company Tata Consultancy Services (TCS) announced on Wednesday that it has signed a 10-year partnership with Insper, one of Brazil’s leading higher education and research institutions.

The IT services firm will be investing about 50 million Brazilian Real (around $8.7 million) for the collaboration that aims to innovate around technologies like Artificial Intelligence (AI), generative AI, the Internet of Things (IoT), and spatial computing technologies.

The target customers for the collaboration include South American companies in banking, insurance, financial services, healthcare, life sciences, manufacturing, energy and resources, among others, TCS' filing with the stock exchanges said. Key research initiatives include using satellite-based geo-sensing for agricultural yield improvement, reducing offshore oil rig downtimes, and using AI to accelerate new drug development.

The TCS-Insper collaboration will include the development of technology prototypes, academic research work, organisation of seminars, hackathons and technology talks using the TCS Pace methodology for innovation at scale, the company statement said.

Bruno Rocha, TCS Brazil Country Head, emphasised the partnership’s goal of establishing stronger market connections to serve diverse company profiles. The collaboration will leverage Insper’s academic expertise and TCS’ Pace methodology for innovation at scale.

TCS continues to expand its Brazilian operations, where it has maintained a presence for over two decades. The company recently launched a new delivery centre in Londrina, Paraná, with plans to create 1,600 jobs over five years. TCS currently serves more than 140 clients across Brazil from its operations in Londrina, São Paulo, and Rio de Janeiro.

The announcement follows a 15-year agreement earlier this week with Ireland’s Department of Social Protection to manage the new Auto Enrolment Retirement Savings Scheme, “My Future Fund,” aimed at improving retirement savings for about 800,000 workers through streamlined enrolment and efficient benefit distributions.

Meanwhile, the IT major in October reported its financial results for the second quarter of FY25 ended September 30. The IT major reported its Q2 FY25 financial performance, ending September 30. Despite cautious spending trends, it saw strong digital transformation contracts driven by increased investments in AI, cybersecurity, and cloud services. The company’s consolidated net profit rose 5% to ₹11,909 crore, up from ₹11,342 crore in the same period last year.