Big blow to IT sector leading company Infosys, deal worth Rs 12,500 crore broken
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New Delhi (Uttam Hindu News): IT major Infosys announced that a global client has decided to conclude a Memorandum of Understanding (MoU) for a $1.5 billion deal focused on artificial intelligence (AI) solutions. The 15-year deal was signed in September with an undisclosed global customer.
No reason was given for ending the deal. The agreement reached in September was subject to a key agreement being reached by the parties. Both sides will no longer pursue the main agreement. “This… is in respect of an MoU with a global company, which was subject to the parties entering into a master agreement,” Infosys told the stock exchange.
“The global company has now decided to terminate the MoU,” the company said. The technology solutions provider recently signed a $1.64 billion deal with London-based Liberty Global for a period of five years. Infosys will announce third quarter earnings on January 11. It had made deals worth $7.7 billion in the second quarter.
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