TCS to float new firm, absorb 950 staff of PearlOur Web Bureau / Mumbai October 18, 2005Tata Consultancy Services Ltd (TCS) will set up a new subsidiary company based in Peterborough, which will take over the business of the UK-based Pearl Group.According to a release issued by TCS to the BSE today, the new company will employ about 950 of Pearl Group's 1,100 staff with about 150 staying with Pearl."The new subsidiary will specialise in BPO for life and pension businesses starting with Pearl Group's closed books portfolio. It will also focus on offering similar services to other life companies, presenting it with an opportunity for significant future growth as business process outsourcing (BPO) is rolled out across the life assurance industry," the release said.The deal is likely to generate revenue of over
