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TCS to exit Sitel India

BANGALORE: Tata Consultancy Services and Sitel, the privately held BPO leader, announced here on Tuesday that they had concluded an agreement to transfer ownership of TCS's 40 per cent stake in Sitel India to the U.S.-based Sitel Corporation for $17.732 million. Sitel India is a joint venture formed in 2000, with Tata Group and Sitel Corp each holding 50 per cent of the equity. Tata International, which holds 10 per cent stake in the joint venture, has also agreed to sell its share.

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