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The business world is abuzz with the news that Tata Consultancy Services (TCS) has decided to buy Siemens' IT Solutions and Services (SIS) unit. According to reports, both companies will discuss the issue in Munich on the fist week of October, 2008. Sources said that a few weeks ago Siemens Chief Executive Peter Loescher was in the process of considering the disinvestment of the external business of the company. In order to gain benefits from global trends, the Munich-based Siemens has recently regrouped its division into three main sectors namely energy, industry and health care.
As far as expansion of business is concerned, the purchase of Siemens' unit by TCS would be of vital importance for the latter. Tata Consultancy Services is not the only one engaged in the race of bidding foreign companies. Other outsourcing firms like Infosys Technologies and HCL Technologies are also expanding their presence in Europe, Asia, the Middle East and Latin America. Indian software services firm HCL Technologies along with Infosys Technology are bidding for Britain's Axon Group Plc.
