Infosys has successfully secured a substantial €1.5-billion ($1.6 billion) deal from Liberty Global to revolutionize the entertainment and connectivity platforms of the digital communications firm. This marks Infosys’ third major deal this year and comes as the company adjusts its revenue guidance for the current fiscal year due to challenges posed by the macroeconomic environment.
The deal introduces ‘Infosys Topaz,’ an AI-first suite of services and platforms, enhancing the AI capabilities of Liberty Global’s existing cloud-first digital foundation built on Infosys Cobalt. In a statement, Infosys CEO Salil Parekh expressed excitement about introducing transformative AI capabilities to complement Liberty Global’s digital infrastructure.
The agreement encompasses an initial five-year period, with potential for extension to eight years, potentially elevating the total deal value to €2.3 billion ($2.5 billion), as indicated by Infosys in an exchange filing.
As part of the deal, Liberty Global aims to achieve operational savings exceeding €100 million annually, covering technology investments and other savings. Liberty Global, known for its convergence of video, broadband, and communications services, has been a client of Infosys since February 2020. The agreement also involves licensing these platforms to Infosys, enabling Infosys to offer services to new operators and markets.
Despite this partnership, Liberty Global retains control over product roadmaps and intellectual property rights for the Horizon entertainment and connectivity platforms. Notably, around 400 employees of Liberty Global, including senior executives and technology teams from various groups, will transition to Infosys as part of the deal.
This move is expected to provide these employees with global exposure, growth opportunities, and a role in shaping Infosys’ capabilities in the communications, media, and entertainment sector. Infosys’ year has been marked by other substantial deals, including a $1.5-billion contract from bp and a $454-million deal from Dankse Bank.
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