IBM and Tata Consultancy Services (TCS) have signed a contract estimated to be worth US$100m to upgrade computer systems for Bank of China.

TCS will provide banking application software for Bank of China, China’s second-biggest bank, and IBM will provide technology including mainframe computers.

The contract follows IBM’s purchase of a 4.7% stake in China’s Guangdong Development Bank in November 2006, as part of the company’s effort to win more orders from Chinese banks.
Source: India InfoOnline