Bangalore: IT majors Tata Consultancy Services (TCS) and Wipro have bagged a major multi-million Dollar annual outsourcing order from blue chip global investment banker Lehman Brothers, a top Wipro official said on November 7.

The deal came about last week, president, Finance and Insurance, Wipro Technologies, Girish S Paranjpe, said.

He said the investment banker would outsource IT work annually to both TCS and Wipro and it would be split between the two.

Paranjpe declined to comment on reports that it's a $ 50 million to $ 70 million annual order saying "it's an internal matter" of Lehman.

Lehman Brothers' main outsource work is application-related and infrastructure management, he said.

TCS sources said it's an open-ended agreement and the potential is huge, noting that TCS has been working with Lehman Brothers for a while. But the sources declined to comment on the value of the deal.

PTI