Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions firm today announced a strategic partnership agreement with Gfi Informatique, a leading vendor in value-added IT services and software to accelerate smart cities programs in France.

Both companies signed pact to meet the requirements of digital initiatives in public transportation, water, and energy and accelerate the adoption of digital technologies in France's fast-growing and innovative smart cities market.

Gfi Informatique and Tata Consultancy Services will offer the Intelligent Urban Exchange (IUX) advanced analytics solution developed by the TCS Digital Software & Solutions (DS&S) Group.

The TCS IUX software solution leverages real-time and historical data to close the loop between citizen and city needs and the supply of services, such as transportation, water and energy.

The contract is a culmination of DS&S Group's knowledge of the global smart city market- a USD 1.6 trillion dollar opportunity by 2020 - and Gfi's trusted relationships with local public sector organizations to provide system integration and localization in France.

Shares of the company declined Rs 23.35, or 0.98%, to trade at Rs 2,368.35. The total volume of shares traded was 22,684 at the BSE (3.15 p.m., Tuesday).