The Infosys-Danske Bank deal underscores Europe’s importance in Indian IT’s scheme of things, especially when deal-making has slowed to a trickle in the US amid fears of a recession.
Infosys recently acquired BASE Life Sciences in Denmark and Fluido in Finland and opened new proximity centres in Gothenburg, Sweden, and Oslo, Norway. Its larger rival, Tata Consultancy Services Ltd., which recently saw a $2-billion deal scrapped in the US, signed an equally large deal with the UK’s National Employment Savings Trust—its fourth such contract in Europe so far this year.
Danske Bank, which provides banking services to individuals as well as corporates, also furthers the generative AI agenda of India’s second-largest IT services firm.
“Infosys has the tools, experience, and expertise to support us in accelerating our digital transformation using cloud and AI technologies,” Frans Woelders, chief operating officer at Danske Bank, said in the statement. “Given Infosys’ global presence and scale, this collaboration will also give us access to wider talent pools and capabilities.”
Source: BQ Prime