Infosys inks a 5-year, 1.5bn euros deal with Liberty Global
By siliconindia | Wednesday, 16 August 2023, 09:27:21 AM IST
Software major Infosys Ltd said it has entered a five-year contract worth about 1.5 billion euros with the UK-based Liberty Global plc. In a regulatory filing, Infosys said the contract has an option to extend to eight years and when extended, the total order value will be 2.3 billion euros. The collaboration allows Liberty Global to realize run-rate savings in excess of 100 million euros per annum, including other savings and technology investments, Infosys said. Liberty Global is in the converged broadband, video and mobile communications services.
In addition, Liberty Global will license its Horizon entertainment and connectivity platforms to Infosys so the digital services provider can offer services to new operators and new markets outside the Liberty Global family. Liberty Global will continue to control product roadmaps and retain all intellectual property for the Horizon entertainment and connectivity platforms. The expanded collaboration will additionally create career opportunities for more than 400 Liberty Global employees joining Infosys.
Under the terms of the business arrangements, senior executives and technology teams from Liberty Global's Product, Technology Development Service Delivery Group, Network & Shared Operations and Security Groups will transition to Infosys. They will also play an important role in shaping the future of Infosys' communications, media and entertainment business and add significantly to its engineering capabilities, the Indian company said.
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