Infosys , India's No.2 IT services provider, signed a $454-million deal with Denmark's Danske Bank, it said on Monday, days after bigger rival Tata Consultancy Services announced a mega-contract amid a slowdown in the IT services industry.
The deal, which includes Infosys acquiring Danske Bank's IT centre in India, is for five years with an option to renew for one more year for a maximum of three times, Infosys said in a"Infosys will collaborate with Danske Bank to strengthen their core business with greater digital, cloud and data capabilities," said Infosys CEO Salil Parekh.Shares of the Bengaluru-headquartered company were little changed after the deal announcement.
Rival TCS signed a contract worth 840 million pounds with British pension scheme Nest for an initial tenure of 10 years last week. That deal came on the heels of TCS terminating a $2-billion contract with insurance provider Transamerica, citing reasons that included a challenging macro environment.
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