Carnegie Mellon University and Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, today announced a USD 35 million gift from TCS to the university.
"Representing the largest corporate gift to CMU, and from outside the U.S., this donation will fund a new facility, the Tata Consultancy Services Building, which will support education and cutting-edge research by CMU faculty and students," the company said.
"At approximately 40,000 square-feet, the stand-alone structure will house state-of-the-art facilities, providing collaborative spaces for CMU faculty and staff. The building will provide space for TCS staff to interact with CMU faculty, staff and students," it added.
''With our shared commitment to education and research in areas that help address many challenges of our time, the partnership with TCS is both natural and extraordinarily promising,'' said Subra Suresh, President of Carnegie Mellon. ''Together, our two organizations have the capabilities and capacity to make breakthrough discoveries, and the scale to make societal impact on a global scale.''
''TCS is proud to invest in this landmark partnership with CMU to promote market-driven innovation and accelerate advancements in technology,'' said Natarajan Chandrasekaran, chief executive officer and managing director of TCS. ''As global leaders, Carnegie Mellon and TCS have the intellectual power, creativity, institutional nimbleness, and global reach to capitalize on new opportunities and have a lasting impact on society and industry through cutting-edge digital research and a long-term commitment to education.''
Shares of the company gained Rs 55.9, or 2.18%, to trade at Rs 2,623.25. The total volume of shares traded was 33,680 at the BSE (12.50 p.m., Wednesday).