Bengaluru: Infosys gave this information to the stock exchanges on Tuesday This has entered into an agreement with one of its existing strategic customers to provide AI and automation-based development, modernization and maintenance services. The company said total customer target spending is projected to be $2 billion over five years. Infosys did not name the client in the filing. The announcement drove the stock price up to 3.6%. BSE on Tuesday.
Despite the global slowdown, Indian IT services companies seem to be bagging big contracts once again. In the last month, many of them have seen a sharp rise in their share price.
Infosys won in May deal from global energy company BP (formerly British Petroleum), which is estimated to be worth about $1. 5 billion. Under this, Infosys will be the primary application service partner of BP.
The deal is spread over five years. Infosys and BP did not comment on the value and term of the deal. The two have had a relationship spanning two decades, during which the annual contract value was in excess of $100 million. Some analysts believe the $2 billion deal BP outlined on Tuesday could be the one BP is going through.
Last month, Infosys had won a $454 million contract from Danske Bank. The deal is to be executed over five years, with an option to renew the contract for an additional year up to three times. Infosys will also acquire Danske Bank’s IT center in India.
Despite the global slowdown, Indian IT services companies seem to be bagging big contracts once again. In the last month, many of them have seen a sharp rise in their share price.
Infosys won in May deal from global energy company BP (formerly British Petroleum), which is estimated to be worth about $1. 5 billion. Under this, Infosys will be the primary application service partner of BP.
The deal is spread over five years. Infosys and BP did not comment on the value and term of the deal. The two have had a relationship spanning two decades, during which the annual contract value was in excess of $100 million. Some analysts believe the $2 billion deal BP outlined on Tuesday could be the one BP is going through.
Last month, Infosys had won a $454 million contract from Danske Bank. The deal is to be executed over five years, with an option to renew the contract for an additional year up to three times. Infosys will also acquire Danske Bank’s IT center in India.