Infosys has announced that it has bagged a $1.5 billion deal. In a stock exchange filing, the company said that it has won a $1.5 billion deal from a global company to provide enhanced digital experiences, along with modernisation and business operations services, leveraging the company’s platforms and AI solutions. The total client target spend is over 15 years. This is subject to parties entering into a master agreement.
Infosys, however, did not disclose the client’s name, it just said that it has entered into a 15-year contract with a “global company”. The scope of the deal is to provide digital transformation and modernisation of business operations services through Infosys’ platforms and artificial intelligence (AI) solutions.
Fourth mega deal
This is the company’s fourth major deal this year. Infosys has announced at least three mega deals in the last few months. In August, the Bengaluru-based IT company announced a five-year mega deal win with Europe-based telecom and communications group Liberty Global that has been valued at 1.5 billion pounds (or ~$1.64 billion) for the initial engagement period. This is an extension of their initial collaboration signed in February 2020.
Infosys will take over the build and operations of Liberty Global’s Horizon entertainment and connectivity platforms. The deal can be extended up to eight years or more. It results in total contract value climbing to €2.3 billion (or ~$2.5 billion) if the contract is extended to eight years.
In June, Infosys bagged a digital transformation deal with Nordic-based Danske Bank valued at $454 million. The deal is for a period of five years. In the same month, the company bagged a $2 billion AI transformation deal with the existing client.
It has been a season of large deals in the IT sector over the past few months. This is mostly because clients are cutting down on costs, and monetising captives and internal assets to focus on core operations.
Earlier this month, Infosys announced a multi-year collaboration with the Stark Group, Europe’s largest retailer and distributor of building materials. This too is an AI deal and leveraging Infosys’ artificial intelligence (AI) suite of services Topaz. Infosys and Stark Group will establish a data center in Denmark to drive tech advancements and provide services to the latter’s offices across Europe. The size and tenure of the deal was not publicly disclosed. As part of this collaboration, Infosys and STARK Group will establish a data center in Denmark.
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