Follow us Now on Telegram ! Get daily 10 - 12 updates on Entertainment, Lifestyle, Sports And More. Join our Telegram Channel http://t.me/vishvatimes1
Download Telegram App before Joining the Channel
Software major Infosys Ltd on Tuesday said it has entered a five-year contract worth about 1.5 billion euros with the UK-based Liberty Global plc.
In a regulatory filing, Infosys said the contract has an option to extend to eight years and when extended the total order value will be 2.3 billion euros.
The collaboration allows Liberty Global to realise run-rate savings in excess of 100 million euros per annum, inclusive of other savings and technology investments, Infosys said.
Liberty Global is in the converged broadband, video and mobile communications services.
In addition, Liberty Global will license its Horizon entertainment and connectivity platforms to Infosys so the digital services provider can offer services to new operators and new markets outside the Liberty Global family.
Liberty Global will continue to control product roadmaps and retain all intellectual property for the Horizon entertainment and connectivity platforms.
The expanded collaboration will additionally create career opportunities for more than 400 Liberty Global employees joining Infosys.
Under the terms of the business arrangements, senior executives and technology teams from Liberty Global's Product, Technology Development Service Delivery Group, Network & Shared Operations and Security Groups will transition to Infosys.
They will also play an important role in shaping the future of Infosys' communications, media and entertainment business and add significantly to its engineering capabilities, the Indian company said.
Chief Minister Yogi Adityanath asks startups not to compromise on quality; assures priority in government purchasesBusiness