Bengaluru-based technology services provider Infosys has announced a multi-year collaboration with the STARK Group, which is Europe's largest retailer and distributor of building materials.

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Infosys will help STARK Group's digital transformation using the recently launched Infosys Topaz.

The new launch from Infosys is an AI-first set of services, solutions and platforms, which uses generative AI technologies.

Infosys and STARK Group, as part of this collaboration, will establish a state-of-the-art data center in Denmark, which will provide seamless service to the STARK Group's offices across Europe.

"We look forward to enhancing the quality of our offerings and kickstarting many new innovations," Pernille Geneser, Group CIO of the STARK Group said.

Karmesh Vaswani, EVP and Global Head of Retail, Consumer Goods & Logistics at Infosys said that the collaboration further strengthens the company's presence in the Nordic region.

Infosys had recently announced a strategic collaboration with Danske Bank to power the bank's digital transformation, further cementing its presence in the Nordic region.

In a recent investor conference with brokerage firm Citi, Infosys mentioned that although the demand environment is not worsening anymore, the conversion cycles remain longer. The management also said that the softness in short-cycle deals continues and that a ramp-up in large deals should aid growth in financial year 2025.

Citi maintained a neutral rating on Infosys with a price target of Rs 1,430. 18 out of the 45 analysts that track Infosys have a buy recommendation on the stock, while 11 have a sell rating.

Shares of Infosys ended 1.6 percent higher at Rs 1,501. The stock is now 1.5 percent away from turning positive for 2023.