Infosys And Liberty Global Forge $1.64 Billion Partnership To Elevate Entertainment And Connectivity Services
New Delhi, 16th August 2023: Infosys and Liberty Global plc have recently announced a significant partnership in the IT sector. The two companies have signed a preliminary agreement for a 5-year collaboration valued at 1.5 billion euros (equivalent to over $1.64 billion), with an option to extend the partnership to a duration of eight years or more. This collaboration aims to advance and expand Liberty Global’s digital entertainment and connectivity platforms.
The initial agreement spans five years, with the possibility of extending it to eight years and beyond. Infosys is set to offer services to Liberty Global, with an estimated total worth of 1.5 billion euros over the first 5 years, and potentially reaching 2.3 billion euros if the partnership extends to 8 years. This partnership is expected to yield substantial savings, exceeding €100 million annually, including various operational efficiencies and technological investments. A joint statement from both companies highlighted the mutual benefits of this endeavour.
As part of this extended collaboration, over 400 employees from Liberty Global will transition to Infosys, presenting them with a range of exciting career prospects within Infosys’ global network. These professionals, previously part of Liberty Global’s senior executives and technology teams, will contribute to shaping the future of Infosys’ communications, media, and entertainment divisions, significantly enhancing its engineering capabilities.
The cornerstone of this alliance is established upon their pre-existing and prosperous cooperation, which has been bolstering Liberty Global’s technological service frameworks since February 2020. The extended initiative entails Infosys assuming responsibility for the enhancement and management of Liberty Global’s highly regarded Horizon entertainment and connectivity systems.
Mike Fries, CEO of Liberty Global, expressed his enthusiasm for this strengthened partnership, emphasizing its potential to reach new markets and enhance customer experiences. He noted the substantial cost savings and the career growth opportunities it offers to the talent involved. Fries anticipates that the collaboration will drive innovation and empower their entertainment solutions to meet the evolving demands of digital-first customers.
Salil Parekh, CEO and MD of Infosys shared his excitement about introducing Infosys Topaz to incorporate AI-driven capabilities alongside the cloud-centric foundation established through Infosys Cobalt for Liberty Global. This strategic move aims to revolutionize the entertainment and connectivity experience for a global audience. Parekh also highlighted Infosys’ robust global operations, which will facilitate market expansion. He reiterated the company’s commitment to delivering on Liberty Global’s trust and vision.
In conclusion, this partnership between Infosys and Liberty Global marks a pivotal step towards innovation and growth in the IT and entertainment sectors. The collaboration’s focus on technological advancement and enhanced customer experiences positions both companies to meet the evolving demands of a digital-first landscape.
