Contract Cancellation Between TCS and Marks & Spencer
Marks & Spencer (M&S) ended its one-billion-dollar long-term technology deal with Indian IT firm Tata Consultancy Services (TCS). According to UK media publication The Telegraph, the move followed the failure of TCS to address concerns over cyber attacks.
TCS reacted to this report and labeled it inaccurate. The company notified stock exchanges that the accusations were false and misleading.
TCS's Role in Marks & Spencer's Technology Operations
TCS has provided Marks & Spencer with technology helpdesk support for some years. In April of this year, M&S was hit by a cyber attack that had losses of around 300 million pounds, according to reports. This, according to The Telegraph, meant the helpdesk contract was not renewed following the cyber attack.
TCS Denies Media Claims
TCS refuted these statements firmly. The company explained that the UK media report contained numerous factual inaccuracies. In accordance with TCS, the value and terms of the contract termination described in the article were wrong.
TCS clarified that the tendering for the contract of service desk by M&S was done in January. Marks & Spencer had made up its mind to employ another entity prior to the April cyber attacks. Thus, the cyber attacks had nothing to do with the contract termination decision.
TCS Continues Its Partnership with M&S
In its official release, TCS further stated that the report was founded on unsubstantiated allegations. The company also clarified that it has a strategic alliance with Marks & Spencer in other business segments. TCS referred to its lengthy connection with the British retailer as a matter of pride.
TCS's Clarification on Cybersecurity Services
Responding to the April cyber attacks, TCS said it did not offer cybersecurity services to Marks & Spencer. The company confirmed it had carried out a comprehensive review of its own networks and systems and no breaches were discovered.
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