TCS will invest $8.7 in the agreement with Brazil, hoping to find new customers in South America.

Tata Consultancy Services on Wednesday, October 30, said it has signed a 10-year strategic partnership with Brazilian company Insper. The agreement includes an investment of BRL 50 million (about US$8.7 million) from India’s largest software company.

Insper is Brazil’s leading higher education and research institution. TCS will support its Brazilian partner in initiatives such as reducing offshore oil rig downtime, satellite geosensing to improve crop yields in Brazil, and using artificial intelligence to accelerate the development of new drugs.

The TCS-Insper collaboration will involve developing technology prototypes, academic research work, organizing workshops, hackathons and technology talks using the TCS Pace methodology for innovation at scale, the company said in a statement.

Target clients for the collaboration include South American companies in banking, insurance, financial services, healthcare, life sciences, manufacturing, energy and resources, as well as other companies listed by TCS on stock exchanges.

At 11:30 am on Wednesday, October 30, TCS shares were trading 0.66% higher at Rs 4,120 apiece. The stock has gained 21.43% over the past year.

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