With an initial five-year term and a potential eight-year extension, the arrangement between Infosys and Liberty Global will be worth 1.5 billion euros (about $1.6 billion) and 2.3 billion euros, respectively. According to a joint statement from the firms, the agreement enables Liberty Global to achieve run-rate savings of more than 100 million euros annually, including other savings and technological investments.
Liberty Global, which has its offices across London, Amsterdam and Denver (US), delivers next-generation products through advanced fibre and 5G networks, and currently provides over 85 million connections across Europe and the UK. As part of this increased contract, more than 400 Liberty Global employees will transition to Infosys.Liberty Global's product, technology development service delivery group, network & shared operations, and security groups' senior executives and technical teams will migrate to Infosys.
Infosys CEO & MD Salil Parekh said it would bring transformative AI-first capabilities to complement the cloud-first digital foundation it previously laid for Liberty Global.
Liberty Global CEO Mike Fries said, “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.”