Mumbai: Leading outsourcers, including Tata Consultancy and Wipro, are looking at acquiring American discount retailer Target's captive technology centre, a newspaper report said on Wednesday.
It will be a transaction with a long-term outsourcing contract worth USD 300 million to USD 400 milion, a report in the Economic Times said.
The US-based retailer has around 1,500 employees at its centre in Bangalore in southern India that does software development and maintenance work, the paper said.
Both TCS and Wipro count Target as one of their top retail customers, it said.
"We have been in discussions with them for the past few months and the dialogue is still open," the paper quoted an unidentified senior executive at one of the software firms exploring the transaction as saying.
Meanwhile, Target has denied that it is engaged in discussions or has plans to sell its Bangalore captive centre. It said that it reiterates commitment to its Target India team and operation.
Target's website showed the company has three software development centres in Bangalore and is looking at more growth options.
Bureau Report
First Published: Wednesday, November 04, 2009, 11:37