Infosys has increased its relationship with global telecom giant Liberty Global in a transaction worth 1.5 billion euros (approximately $1.6 billion) over the original five-year period, and 2.3 billion euros if the contract is extended for an additional eight years. According to a joint release, the agreement enables Liberty Global to realize annual savings of more than 100 million euros, including other savings and technology investments.
Liberty Global, which has offices in London, Amsterdam, and Denver (US), provides next-generation goods via advanced fiber and 5G networks, and now serves over 85 million customers in Europe and the United Kingdom. As part of this enlarged contract, more than 400 Liberty Global employees will join Infosys. Liberty Global’s product, technology development service delivery group, network & shared operations, and security units will be transitioned to Infosys.
Salil Parekh, CEO and MD of Infosys, stated that the company would provide disruptive AI-first capabilities to complement the cloud-first digital platform it had previously created for Liberty Global.
“Strengthening and expanding our collaboration with Infosys gives our best-in-class solutions new scale with the ability to reach many more markets and bring positive experiences to more customers,” said Liberty Global CEO Mike Fries. And, while it generates significant long-term central cost savings, it also gives fantastic possibilities for our personnel to develop specialty skills and build important careers with Infosys.”