Infosys and Liberty Global have entered an initial five-year agreement valued at 1.5 billion euros ($1.64 billion), according to a report by Reuters. The contract’s primary objective is to amplify and broaden the scope of the communication company’s digital entertainment and connectivity platforms, as confirmed in a joint declaration on Tuesday.
Both entities have jointly disclosed their commitment to a 5-year accord, with a possibility that there may be an extension of 8 years or more. Within this collaborative venture, Infosys is set to take charge of the operational aspects of the UK-based firm’s entertainment and connectivity platforms, incorporating its AI solution, Infosys Topaz.
In a joint communiqué issued on Tuesday, the companies conveyed, “This strategic step holds the promise of introducing cutting-edge digital entertainment and connectivity services, including the likes of Horizon, to a global audience of millions, marking a first-time endeavour.”
Should the agreement’s extension materialize, Infosys is on track to provide services valued at 2.3 billion euros. The partnership is poised to empower Liberty Global to achieve annualized cost savings surpassing 100 million euros, as outlined in the provided details.
Also Read: Unveiling The Profound Link Between Mindfulness And Physical Well-being
This development emerges amidst a landscape of restrained client expenditure due to macroeconomic uncertainties and recessionary concerns, prompting Indian IT service companies, such as Infosys, to predict more tempered growth. Notably, Infosys downwardly revised its fiscal year revenue projections in the preceding month.
In a notable move, Infosys recently finalized a confidential 5-year artificial intelligence deal with an undisclosed client, with a financial target of $2 billion in expenditures.
Having established a partnership with Liberty Global’s technological services platform since February 2020, the prominent IT services enterprise headquartered in Bengaluru continues to make strides in its collaboration with the communication giant.
Also Read: Delhi: Woman Strangles Boyfriend’s Minor Son, Conceals Body In Bed Box
