Infy bags $1.6-bn deal from Liberty Global

New Delhi Converged video, broadband and communications company Liberty Global and IT services firm Infosys on Tuesday announced expanding their collaboration to scale Liberty Global’s digital entertainment and connectivity platforms in a multi-year deal valued at 1.5 billion euros ($1.63 billion).

Infosys will provide services to Liberty Global estimated at 1.5 billion euros over the initial 5-year term and the size of the contract will touch 2.3 billion euros if extended to 8 years. The parties have entered into an initial 5-year agreement, with an option to extend to 8 years and beyond. Under the terms of the pact, senior executives and technology teams from Liberty Global’s product, technology development service delivery group, network and shared operations and security groups will transition to Infosys. The expanded collaboration will create exciting career opportunities for over 400 Liberty Global employees joining Infosys, who will benefit from its global scale and reach, according to a statement. “Infosys will provide services to Liberty Global estimated at €1.5 bn over the initial 5-year term and at € 2.3 bn if the contract is extended to 8 years. The collaboration allows Liberty Global to realise run-rate savings in excess of €100 million per annum, inclusive of other savings and technology investments,” the statement said.