Tata Consultancy Services, India’s largest IT services provider, has settled its three-year old lawsuit with US district Orange County for $26 million. The litigation was over replacement to the County’s automated property tax system that initially was to have been completed in 2010 but was not delivered. The county sued TCS in 2013. “TCS and Orange County have agreed to settle an ongoing dispute regarding the joint development of a Property Tax Management System. Both parties had asserted claims against each other, but neither admits any liability,” a TCS spokesperson told ET in a statement. In a press release, the County Executive Office of Orange County said that the settlement amounted to $26 million. “The amount of the settlement is more than four times the stated $6.4 million cost of the contract, and more than five times the amount the County actually paid to Tata,” the Orange County press release said. Stay updated on the go with Times of India News App. Click here to download it for your device.
