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.
(Reuters)
Shareholders will swap each current share for one share in Primark and one share in the new food companyiStock 
