NEW YORK | MUMBAI, June 21, 2018: Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that it has been ranked as one of the top 100 most valuable US brands for the fourth consecutive year by Brand Finance®, the world’s leading brand valuation firm.
Brand Finance’s annual 'Top 500 US Brands' study ranked TCS 58th among America’s most valuable brands across all sectors, rising five places from last year’s analysis. This follows TCS being listed in March 2018 as one of the top three most valuable brands in the global IT services sector, according to Brand Finance’s 15th annual IT Services report. TCS’ brand value of $10.391 billion represented a 14 percent growth from $9.081 billion in 2017, making TCS the fastest growing brand in IT Services.
“TCS recently consolidated its position as a top three global IT services brand by adding more than $1.3 billion to its value, which is a huge achievement for the company and its relatively new CEO,” said David Haigh, CEO, Brand Finance. “TCS’ deep expertise across industries, leading approach to digital business transformation, employee re-skilling, investments in notable academic research partnerships, and platforms such as the TCS New York City Marathon have helped to significantly grow its brand value.”
“Our customer-centric approach and commitment to helping American businesses and communities transform and grow, are key drivers of TCS’ brand strength in the US,” said Surya Kant, President of North America, UK and Europe, TCS. “We are proud to be recognized for the fourth consecutive year as one of America’s top 100 most valuable brands, and remain steadfast in re-skilling our employees, this nation’s future talent and, of course, helping our customers in their digital transformation journeys to become Business 4.0 enterprises.”
TCS has invested nearly $3 billion in the US over the past three years, being among the top two IT services job creators in the country and one of America’s 50 most community-minded organizations. It will have engaged more than two million Americans through its extensive nationwide STEM education programs by 2020, such as goIT, TCS’ signature program that inspires underserved youth to explore app development, design thinking and technology careers, and its partnership with Discovery Education to create a first-of-its-kind program, Ignite My Future in School, which embeds computational thinking and digital problem solving into mainstream curriculum subjects.
The strength of the TCS brand was further augmented in the U.S over the past year with the groundbreaking of TCS Hall at Carnegie Mellon University, as part of a $35 million endowment, and the inauguration of the Tata Innovation Center at Cornell Tech, following a $50 million investment to spur joint industry and academic digital research and ongoing campus expansion. Furthermore, TCS’ marquee marathon and community health platform, the TCS New York City Marathon, won numerous awards for its record breaking mobile app that significantly enhanced the race experience.
Brand Finance evaluated 500 US brands by calculating the values of the companies using the ‘Royalty Relief’ valuation method. This involved estimating the likely future sales that are attributable to a brand and then calculating a royalty rate that would be charged for the use of the brand, (i.e. what the owner would have to pay for the use of the brand - assuming it were not already owned).
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that partners with many of the world’s largest businesses in their transformation journeys. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development. A part of the Tata group, India's largest multinational business group, TCS has over 394,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $19.09 billion for year ended March 31, 2018 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at www.tcs.com.
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