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Tata Infotech Ltd (TIL) is merged with Tata Consultancy Services (TCS) with from April 1, 2005. The shareholders of TIL will receive one equity share of TCS for every two shares held. Post-merger, Tata Sons' holding will go up marginally to 80.52 per cent in TCS.

Merger would provide TCS an expanded customer base and deeper penetration in key geographies. TIL has a significant presence in the systems integration areas, particularly in telecommunication and defence, which will supplement the capabilities of TCS.

After the TIL merger, TCS will be the first IT company in India with sales of over Rs 10,000 crore. Wipro, with net sales of Rs 8,160 crore in 2004-05 will be second largest company and Infosys Technologies, with sales of Rs 7,130 crore, will rank third in the pecking order.

With a combined net profit of Rs 2,057 crore, TCS will continue to be the most profitable IT company in India. Infosys Technologies, which had earned net profit of Rs 1,892 crore last year, will rank second and Wipro with a net profit of Rs 1,629 crore ranked third.

..... Read more technology related news

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