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Infosys Secures $1.64 Billion Deal from Liberty Global, Expands Innovation Partnership

• ByStartupStory     |    August 16, 2023

Infosys, the second-largest IT services exporter in India, has secured a substantial deal worth $1.64 billion from Liberty Global, a multinational communication company. The agreement spans an initial five-year term, with the possibility of extension up to eight years and beyond. The contract is valued at €1.5 billion ($1.64 billion) for the first five years, and if extended to eight years, the value will increase to €2.3 billion ($2.5 billion). This achievement marks the third significant contract obtained by Infosys recently. Earlier in June, they announced a $454 million deal with Danske Bank of Denmark, followed by a $2 billion order from an existing client in July.

As outlined by Infosys, this partnership will enable Liberty Global to achieve annual savings exceeding €100 million ($109 million), encompassing various cost efficiencies and technological investments. Additionally, Infosys will welcome over 400 employees from Liberty Global into its fold. Under this agreement, Infosys will assume responsibility for constructing and operating Liberty Global’s Horizon entertainment and connectivity platforms. Moreover, Liberty Global is granting licenses for these platforms to Infosys, enabling them to offer these services to new operators and markets beyond the communication company’s scope. Leveraging its AI offering, Topaz, Infosys will cater to the Liberty Global deal as the communication company aims to tap into diverse digital platforms to expand its market reach.

Liberty Global CEO Mike Fries 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.”

 Infosys CEO Salil Parekh said, “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. The strength of our global operations will also help the business scale across markets.”

 

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