• Saturday, September 30, 2023


Infosys, Liberty Global sign $1.64bn deal

By: Pramod Thomas

INDIAN software services exporter Infosys and Liberty Global have signed a $1.64 billion (£1.3bn) agreement to evolve and scale the communications firm’s digital entertainment and connectivity platforms, the companies said.

The five-year agreement, which has an option to be extended to eight years and beyond, will have Infosys taking over the operations of the UK-headquartered company’s entertainment and connectivity platforms, with its AI offering Infosys Topaz, the companies said in a joint statement on Tuesday (15).

“This will potentially enable millions of new customers, around the world, to experience next-generation digital entertainment and connectivity services through Horizon for the first time.”

Infosys will provide services worth £2bn if the contract is extended to eight years, and the collaboration will allow Liberty Global to realize run-rate savings in excess of £86m per annum, according to the details outlined in the statement.

The order comes at a time when curtailed client spending amid macroeconomic uncertainties and recession fears have prompted Indian IT service firms to project muted growth, including Infosys, which in July, halved its full-year revenue forecast.

Last month, Infosys signed a five year AI deal with £1.6bn target spend with a client whose name it did not disclose.

The Bengaluru-based IT services major has been in partnership with Liberty Global’s technology services platform since February 2020.



Related Stories