Infosys secures $1.6 billion contract from telecom giant Liberty
Infosys has solidified its partnership with the global telecom leader, Liberty Global, in a deal valued at approximately 1.5 billion euros ($1.6 billion).
This accord is initially structured for five years, with provisions for extension up to eight years, which would raise its value to an impressive 2.3 billion euros.
This strategic collaboration heralds substantial benefits, as outlined in a joint declaration by both companies.
Liberty Global stands to reap recurring savings surpassing 100 million euros annually, encompassing a spectrum of efficiencies and investments in technology.
Liberty Global has its presence in London, Amsterdam, and Denver (USA) and provides cutting-edge offerings through advanced 5G networks and fiber optics.
It caters to a vast customer base exceeding 85 million across the European and UK markets.
Over 400 Liberty Global staffers, such as senior executives and technology teams, will join Infosys as part of this expanded contract.
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The teams include product, technology development service delivery groups, network & shared operations, and security groups.
Infosys CEO & MD Salil Parekh said it would bring transformative AI-first capabilities to complement the cloud-first digital foundation it previously laid for Liberty Global.
Mike Fries, CEO of Liberty Global, said: “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.
“And while it produces substantial central cost savings over time, it also provides excellent opportunities for our talent to grow their specialist skills and nurture impactful careers with Infosys.”