Tata Consultancy Service is all set to finalize an outsourcing deal with financial giant Citi Group worth $500-900 million. The contract which is yet to be signed up (most probably by early second week the deal will be signed) will be based on take-or-pay-order system.



In the first phase TCS plans to employ 2,200 people for the assignment in the first year itself. And depending on the advancement of the project it will ramp up further. According to the contract TCS has to complete the given task from Citibank under a stipulated period of time and will be paid a fixed amount. Satyam and i-Flex are also expected to receive a small pie of the contract.



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