Infosys inks $1.64 billion deal with Liberty Global

Infosys and Liberty Global have signed an initial five-year agreement worth 1.5 billion Euros ($1.64 billion) to evolve and scale the communications firm's digital entertainment and connectivity platforms, the companies said in a joint statement on Tuesday.

Infosys said, “By bringing the scale and breadth of Infosys, including cutting-edge technologies such as Infosys TopazTM AI offering, the expanded collaboration ensures continued operational excellence, a highly scalable development engine for new features and capabilities, and efficiencies 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 Mike Fries, CEO, Liberty Global.

Liberty Global is a global leader in integrated broadband, video, and mobile services. With advanced fibre and 5G networks, Liberty Global serves 85+ million connections in Europe and the UK. Liberty operates under renowned brands like Virgin Media-O2, VodafoneZiggo, Telenet, Sunrise, Virgin Media, and UPC.

Salil Parekh, CEO & MD, Infosys said, "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.”

Infosys is also working on 80 generative AI projects

As Republic reported on 20th July, Infosys is currently working on 80 generative AI projects for its clients. Infosys CEO had also expressed his confidence in generative AI, particularly their comprehensive AI offering, Topaz, which is proving to be significantly enhancing Infosys' service portfolio.

Infosys reported an 11 per cent rise in consolidated net profit in the June quarter at Rs 5,945 crore but delivered a shocker by slashing its full-year growth outlook to 1-3.5 per cent hurt by macro uncertainties and delayed decision-making in the market.

The net profit (before minority interest) during the same period the previous year stood at Rs 5,362 crore. The company posted revenue growth of 10 per cent to Rs 37,933 crore, up from Rs 34,470 crore in the year-ago period.

Infosys is a global leader in digital services and consulting, with a workforce of over 300,000 individuals. Focused on maximising human potential, Infosys drives opportunities for people, businesses, and communities. 

(With Reuters inputs)