Citi to sell some of its internal IT platforms worth $60 - $100 million
Citibank is currently in discussions with Indian IT firms Tata Consultancy Services (TCS) and Wipro, among others, to sell some of its internal IT platforms, two people familiar with the discussions said. The deal, which could be valued between $60 and $100 million, includes intellectual property (IP) used for delivering equity trading services.
"With this IP, we will not only gain business from Citi, but also be able to offer services to other financial services customers using the same platform," said a senior executive at one of the IT firms negotiating with Citi to acquire its technology assets.
Source: The Economic Times
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