Liberty Global Boosts Partnership With Infosys, Sees Annual Cost Savings Of €100M

Liberty Global PLC LBTYA disclosed the collaboration expansion with Infosys Ltd INFY to boost its digital entertainment and connectivity platforms and ensure cost efficiency.

In particular, the companies penned an initial 5-year deal, with an option to extend to 8 years and beyond. 

Per the terms, Infosys will offer services to Liberty Global worth €1.5 billion over the initial 5-year period and at €2.3 billion if the contract is expanded to 8 years. 

Liberty Global expects to realize run-rate savings of over €100 million annually, including other savings and technology investments.

Notably, the companies had an ongoing partnership agreement since February 2020. 

The collaboration will enable millions of new customers globally to experience advanced digital entertainment and connectivity services through Horizon for the first time.

Moreover, it will create career opportunities for over 400 Liberty Global employees joining Infosys. 

"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. The strength of our global operations will also help the business scale across markets," said Salil Parekh, Infosys CEO & MD.

Also Read: Infosys Secures $2B Contract, Sets Positive Tone Amidst Accenture and TCS Reports: Analyst

Price Action: LBTYA shares closed lower by 0.11% at $18.51 on Monday.