IT major Infosys has clinched a groundbreaking five-year deal extension with Europe-based telecom and communications giant Liberty Global, valued at EUR 1.5 billion (approximately USD 1.64 billion) for the initial engagement period.
The partnership will see Infosys take charge of the construction and operation of Liberty Global’s Horizon entertainment and connectivity platforms.
This new deal represents an extension of their initial collaboration, which was originally initiated in February 2020. As part of the agreement, Infosys is also poised to introduce its cutting-edge Topaz AI offerings into Liberty Global’s operations, marking a significant stride towards innovative and intelligent solutions in the telecom sector.
In a statement, Salil Parekh, CEO and MD, Infosys, said, “We are excited to bring Infosys Topaz to enable transformative AI-first capabilities to complement the cloud-first digital foundation we have laid for Liberty Global using Infosys Cobalt. This will unveil a new chapter in our joint journey of innovation as we reimagine entertainment and the connectivity experience for millions of global consumers.”
A remarkable aspect of this collaboration is the potential for the deal to be extended further, up to a span of eight years or beyond. Should this occur, the overall contract value could surge to an astonishing EUR 2.3 billion (approximately USD 2.5 billion) by the end of the extended period.
Infosys has been on a roll, having recently announced its third major deal within a span of a few months. In June, the company secured a notable digital transformation deal valued at USD 454 million with Danske Bank, a Nordic-based financial institution. The extension with Liberty Global overshadows even its earlier milestone – a USD 1.5 billion deal with global energy leader BP, spanning five years and hailed as the company’s largest deal in the last three years.
This series of triumphant agreements reflects the robust position Infosys holds in the ever-evolving IT landscape. The technology firm’s forward-thinking approach and ability to cultivate substantial partnerships have enabled it to remain at the forefront of industry transformation.
Liberty Global stands to benefit significantly from this collaboration as well. The partnership is projected to yield annual savings of over EUR 100 million, encompassing an array of operational efficiencies and technology investments.
As part of the extended partnership, more than 400 employees from Liberty Global are poised to make the transition to Infosys. This integration will encompass senior executives and technology experts from key departments, such as product development, technology innovation, service delivery, network management, and security.
“The strength of our global operations will also help the business scale across markets. As we prepare to welcome new talent and teams of innovators to Infosys, we look forward to building on the trust that Liberty Global has in us,” Parekh added.