Multi-billion deal: This IT giant signs a deal worth EUR 1.5 billion for AI-powered platform with Liberty Global!

Shares of the company gained more than 1.50 per cent in the morning trade.

On a historic day in India, August 15, 2023, marking the 77^th Independence Day of India, Infosys Limited came up with an announcement of a collaboration with Liberty Global for AI-Powered digital entertainment for customers worldwide and drive significant efficiencies on technology costs.

Liberty Global and Infosys building on their existing multi-year collaboration which has successfully supported Liberty Global's technology services platforms since February 2020, the companies will significantly expand the program, with Infosys taking over the build and operations of Liberty Global's award-winning Horizon Entertainment and connectivity platforms.

The companies have entered into an initial 5-year agreement, with an option to extend to 8 years and beyond. Infosys will provide services to Liberty Global estimated at EUR 1.5bn over the initial 5-year term and at EUR 2.3bn if the contract is extended to 8 years.

In addition to the agreement, Liberty Global is licensing these platforms to Infosys so the digital services provider can offer best-in-class services to new operators and new markets outside the Liberty Global family.

Infosys was incorporated in Pune, in 1981, as Infosys Consultants Private Limited. Infosys is a leading provider of consulting, technology, outsourcing, and next-generation digital services, enabling clients to execute strategies for their digital transformation.

On Wednesday, the stock opened at Rs 1,411.00, with a high and low of Rs 1,419.00 and Rs 1,405.00. The stock is currently trading at Rs 1,414.95, up by 1.53 per cent. The stock has a 52-week high of Rs 1,672.45 and a 52-low of Rs 1,215.45. 

Disclaimer: The article is for informational purposes only and not investment advice.