Infosys Enters a $1.6 Billion Deal With Telecom Major Liberty Global The collaboration allows Liberty Global to realize run-rate savings in excess of €100 million per annum, inclusive of other savings and technology investments, as per a joint statement
By Teena Jose
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Indian IT service company Infosys has announced that it has entered a 5-year agreement worth $1.64 billion with Liberty Global. According to an official statement, the deal aims to transform and scale the entertainment and connectivity platforms of Liberty Global.
"The parties have entered into an initial five-year agreement, with an option to extend to 8 years and beyond. Infosys will provide services to Liberty Global estimated at €1.5 billion over the initial 5-year term and at €2.3 billion if the contract is extended to 8 years. The collaboration allows Liberty Global to realize run-rate savings in excess of €100 million per annum, inclusive of other savings and technology investments," noted the joint statement.
It further added, "By bringing the scale and breadth of Infosys, including cutting-edge technologies such as Infosys TopazTM AI offering, the expanded collaboration ensures continued operational excellence, a highly scalable development engine for new features and capabilities, and efficiencies for Liberty Global."
"Strengthening and expanding our collaboration with Infosys gives our best-in-class solutions new scale with the ability to reach many more markets and bring positive experiences to more customers. We look forward to working together to accelerate innovation and make our entertainment solutions even more powerful," said Mike Fries, CEO of Liberty Global, in the statement.
Moreover, Liberty Global would licence all the platforms that are built under the deal to Infosys. Also, 400 employees of Liberty Global will also join Infosys. Senior executives and technology teams from Liberty Global's Product, Technology Development Service Delivery Group, Network & Shared Operations and Security Groups will transition to Infosys.
"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," Salil Parekh, CEO and MD, Infosys commented, adding that this collaboration will unveil a new chapter in the joint journey of innovation as the company reimagine entertainment and the connectivity experience for millions of global consumers.
