 "Infosys")
IT major Infosys on Friday said it has signed a contract worth $1.5 billion with a global company for a period of 15 years to leverage the company’s platforms and artificial intelligence (AI) solutions.
Infosys did not name the company, nor has it mentioned whether it is a new or an existing client.
“Infosys has entered into a memorandum of understanding with a global company to provide enhanced digital experiences, along with modernisation and business operations services, leveraging Infosys platforms and artificial intelligence (AI) solutions. This is subject to parties entering into a Master Agreement,” the company said in an exchange filing.
This is the fifth mega-deal for Infosys this financial year.
In May, it won a deal worth $1.5 billion with British oil and gas company BP.
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This was followed by a second pact worth $454 million with Danske Bank in June.
In July, Infosys announced a $2 billion deal with an existing strategic client.
Most recently in August, Infosys and Liberty Global, a London-based telecom, signed a $1.64 billion deal for the initial five years to evolve and scale up the telco's digital entertainment and connectivity platforms.
As part of the expanded collaboration agreement, Infosys will provide services to Liberty Global estimated at $2.5 billion, if the contract is extended to eight years.
The deal builds on an existing multi-year collaboration as part of which Infosys has supported Liberty Global's technology services platforms since February 2020.
The deal announced on Friday also leverages AI, similar to the deal with Liberty Global which leverages Infosys AI offering Topaz to bring AI-enabled digital entertainment powered to Liberty Global’s customers.
Infosys’ larger peer Tata Consultancy Services (TCS) has bagged several major deals this year.
The latest was announced last month – a strategic partnership valued at £800 million (about $1 billion) over the next five years with the digital unit of Jaguar Land Rover (JLR) to help the luxury carmaker accelerate the modernisation of its IT infrastructure.
In the recent past, TCS has inked several pacts with UK-based organisations.
In June this year, India’s biggest IT services firm signed a contract worth $1.9 billion for a period of 18 years, with UK’s National Employment Savings Trust (Nest). It also inked a 10-year pact with the Department of Education to administer and enhance customer experience for the Teacher’s Pension Scheme in England and Wales.
In February, TCS bagged a $723 million deal with UK’s Phoenix Group Holdings and a 10-year deal with UK retailer Marks & Spencer.
