SSIS 2012 and Teradata

I have a package in SSIS 2012 catalog trying to get some data from Teradata DB. The connection is not working for me and I keep getting the error:
ADO.NET Source has failed to acquire the connection with the following error message:
"Could not create a managed connection manager".
This connection works and the package runs from my local desktop but not from the SSIS Catalog. Any ideas why this is happening?
I tried OLEDB, ADO.NET & ODBC connections. None of them work so far. Please help!