Infosys got a big blow, Before the start of the new year, a deal worth Rs 12500 crore broke.
New Delhi: The country’s leading IT company Infosys suffered a major setback before the beginning of the new year 2024. Its effect can be seen in the company’s stock in the stock market this week. The deal made by the company with a global firm in September has broken. This deal was worth 1.5 billion dollars or about Rs 12,500 crore. According to media reports, Infosys has canceled this big deal with a global company based on Artificial Intelligence i.e. AI solutions. According to the report, the company has now decided to end the MoU.
Now both companies will not take the master agreement forward. The objective of this deal was to modernize digital transformation and business operations services through Infosys’ platforms and AI solutions. However, the name of the global company has not been disclosed by Infosys. At the same time, the company has not given any information about the reason behind canceling the deal.
what was the deal?
According to the report, this deal was made by the company with one of its existing clients for 5 years. Under this agreement, the company was going to provide AI, automation-based modernization, and maintenance services. The effect of this deal was visible in the shares of the company. Buying was seen in the company’s shares. There was a rise of more than two percent in the stock.
Company officer resigned
Recently, Company Chief Financial Officer i.e. CFO Nilanjan Roy resigned from his post. Nilanjan Roy had suddenly resigned after holding the post for about 6 years. In less than two weeks, the company has informed about the cancellation of the deal. However, in the last few months, the Company has announced many big deals. Last week, the Company signed a 5-year deal with auto parts distributor LKQ Europe. Recently, Infosys signed an agreement worth $1.64 billion with London-based Liberty Global for five years. And read this also.