TCS says buys Citi's India BPO arm for $505mln

MUMBAI Oct 8 (Reuters) - Tata Consultancy Services (TCS.BO), India's top software services exporter, said on Wednesday it would acquire Citigroup's (C.N) back office unit in India for about $505 million in cash.

As part of the deal, Tata Consultancy would provide outsourcing services to Citi and its affiliates for $2.5 billion over a period of nine and a half years, it said in a statement. (Reporting by Prashant Mehra; Editing by Ranjit Gangadharan)