IT major Infosys and Liberty Global plc have recently announced a significant 5-year agreement valued at $1.64 billion, with the provision to extend up to eight years and beyond. The collaboration aims to transform and expand Liberty Global's digital entertainment and connectivity platforms.

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"The parties have entered into an initial five-year agreement, with an option to extend to 8 years and beyond. Infosys will provide services to Liberty Global estimated at €1.5 billion over the initial 5-year term and at €2.3 billion if the contract is extended to 8 years. The collaboration allows Liberty Global to realize run-rate savings in excess of €100 million per annum, inclusive of other savings and technology investments," according to a joint statement filled as a regulatory filling.

In addition, this partnership presents a remarkable opportunity for over 400 Liberty Global employees who will join Infosys. The move will involve senior executives and technology teams from various divisions of Liberty Global, including product, technology development, service delivery, network, shared operations, and security.

"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. And while it produces substantial central cost savings over time, it also provides excellent opportunities for our talent to grow their specialist skills and nurture impactful careers with Infosys. We look forward to working together to accelerate innovation and make our entertainment solutions even more powerful," said Mike Fries, CEO of Liberty Global,

This collaboration builds upon the existing successful partnership that began in February 2020, which has been supporting Liberty Global's technology services platforms. Infosys will now take over the construction and operation of Liberty Global's renowned Horizon entertainment and connectivity platforms.

"We are excited to bring Infosys Topaz™ to enable transformative AI-first capabilities to complement the cloud-first digital foundation we have laid for Liberty Global using Infosys Cobalt. This will unveil a new chapter in our joint journey of innovation as we reimagine entertainment and the connectivity experience for millions of global consumers. The strength of our global

operations will also help the business scale across markets. As we prepare to welcome new talent and teams of innovators to Infosys, we look forward to building on the trust that Liberty Global has in us," said Salil Parekh, CEO & MD, Infosys.

First Published:Aug 15, 2023 3:51 PM IST