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Infosys bags mega $1.5 billion deal for 15 years

Infosys bags mega $1.5 billion deal for 15 years

India Blooms News Service | @indiablooms | 16 Sep 2023, 12:23 am

Bengaluru: Prominent Indian IT firm Infosys has entered into a 15-year agreement with a 'global corporation', ET reported.

The contract's focus is on delivering digital transformation and modernization services for business operations through Infosys' platforms and artificial intelligence solutions, the report said.

The anticipated total expenditure for the client over the 15-year period is estimated at $1.5 billion, contingent on both parties finalizing a master agreement, as indicated in the company's official filing.

This development follows Infosys' recent announcement of at least three major contracts in recent months.

In August, the Bangalore-based IT firm disclosed a major five-year deal with Liberty Global, a Europe-based telecommunications and communications conglomerate.

The initial engagement period is valued at approximately €1.5 billion (or ~$1.64 billion). This extends their initial collaboration signed in February 2020.

Infosys will assume responsibility for constructing and managing Liberty Global's Horizon entertainment and connectivity platforms.

The contract can potentially be extended for up to eight years or more, resulting in a total contract value of approximately €2.3 billion (or ~$2.5 billion) if extended to the maximum duration.

Furthermore, in June, Infosys secured a digital transformation contract with Nordic-based Danske Bank, valued at $454 million over a five-year period.

In the same month, the company also secured a $2 billion AI transformation deal with an existing client.