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BENGALURU: A US jury has asked TCS to pay $210 million for alleged misappropriation of US IT services firm DXC’s (formerly CSC) source code to develop its software platform, TCS Bancs, that would compete with the former.
The jury said TCS accessed a trade secret by infringing CSC’s proprietary platforms. The latest award appears to be another setback for TCS after the US Supreme Court confirmed a punitive damages award of $140 million upon it in the Epic Systems case for accessing Epic’s web portal without authorisation.
When TOI reached out to TCS on the DXC case, the company said, “TCS respectfully disagrees with the jury’s advisory verdict.The matter will now be decided by the Court, which has ordered further briefing from the parties. We plan to continue to litigate this ongoing case. We will have no further comment as the case remains pending.”
VantageOne and DXC Wealth Management Accelerator enable insurance functions including managing policies and creating new products. Its other platform Cyberlife provides real-time system support for life and annuity products to its client Money Services (MSI), an affiliate of US-based insurer Transamerica.
In 2018, TCS bagged a $2.5-billion deal from Transamerica to enhance its digital capabilities and simplify the service of over 10 million policies into a single integrated platform. However, in June this year, Transamerica scrapped a $2 billion, 10-year deal with TCS citing challenging macroeconomic conditions.
The jury said TCS accessed a trade secret by infringing CSC’s proprietary platforms. The latest award appears to be another setback for TCS after the US Supreme Court confirmed a punitive damages award of $140 million upon it in the Epic Systems case for accessing Epic’s web portal without authorisation.
When TOI reached out to TCS on the DXC case, the company said, “TCS respectfully disagrees with the jury’s advisory verdict.The matter will now be decided by the Court, which has ordered further briefing from the parties. We plan to continue to litigate this ongoing case. We will have no further comment as the case remains pending.”
VantageOne and DXC Wealth Management Accelerator enable insurance functions including managing policies and creating new products. Its other platform Cyberlife provides real-time system support for life and annuity products to its client Money Services (MSI), an affiliate of US-based insurer Transamerica.
In 2018, TCS bagged a $2.5-billion deal from Transamerica to enhance its digital capabilities and simplify the service of over 10 million policies into a single integrated platform. However, in June this year, Transamerica scrapped a $2 billion, 10-year deal with TCS citing challenging macroeconomic conditions.
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