A substantial agreement worth €1.5 billion ($1.64 billion) has been secured by renowned technology giant Infosys from Liberty Global. According to the deal, the digital communications company will create and enhance entertainment and connection platforms.
According to Infosys, the five-year original contract may be extended to eight years, potentially raising the deal’s worth to €2.3 billion ($2.5 billion).
This development highlights the growing focus IT businesses are placing on the telecom industry. The agreement follows HCLTech’s recently concluded $2.1 billion contract with Verizon.
Additionally, Cricket Australia selected HCLTech for the next stage of the company’s digital transformation, according to a separate announcement made by HCLTech the same day.
The collaboration with Infosys is expected to yield significant cost savings for Liberty Global, exceeding €100 million ($109.32 million) annually, including technology investments and other efficiencies. As part of the deal, over 400 employees of Liberty Global will transition to Infosys.
Expressing enthusiasm for the partnership, Salil Parekh, MD and CEO of Infosys, stated, “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.”