Coforge secures $230 mn AI transformation contract with European client

India's Coforge said on Friday it had secured a ​five-year contract worth more than $230 ​million with a major European ‌client, without naming the customer, for an AI-led business transformation program.

The IT services company said the engagement, one of its largest AI-led transformation deals in Europe, will combine low-code/no-code platforms, AI-powered automation and AI-enabled software ‌development to modernize the client's business operations.

The contract is expected to improve decision-making, boost productivity, reduce manual effort and speed up service delivery, Coforge said in an exchange ​filing.

Shares of Coforge extended gains to trade as much ‌as 1.72% higher at a session high of 1,464.70 ​rupees ‌after the company announced the contract.

 

The ‌deal reflects growing demand for enterprise-scale AI transformation as organizations move ‌beyond pilot ​projects to broader ​AI adoption, Coforge's president and Europe business leader John Speight said.