Indian tech giant Infosys has won a deal from Denmark-based Danske Bank that is worth US$454 million, the company confirmed in a statement on Monday. The deal will see Infosys join Danske as a partner to develop the banks digital ecosystem.The partnership deal is worth $454 million and will run for five years. There is an option to increase the deal for one year for a maximum of three times, potentially increasing the deals value to $900 million.Infosys leads while IT sector stagnatesThe multimillion-dollar deal will be a coup for Infosys, which is the second-largest IT services firm in India. Indias tech industry, a massive source of income for the country, has seen stagnation in recent years and has posted losses adding up to billions. This deal, which will see them partner with Denmarks largest bank, will hopefully kickstart the industry again.“Infosys will collaborate with Danske Bank to strengthen their core business with greater digital, cloud and data capabilities. This will help Danske Bank create more value for their customers using powerful advances in Al, including generative Al,” said Salil Parekh, CEO of Infosys.This is also a good deal for Danske Bank, which is a Fortune-500 bank aiming to become a European powerhouse in banking.“Our Forward 28 strategy sets clear ambitions for Danske Bank to be a leading bank in a digital age,” said, Frans Woelders, COO of Danske Bank, “We have conducted a thorough process to find a partner that can help us meet our ambition. Infosys have the tools, experience, and expertise to support us in accelerating our transformation using cloud and AI technologies. Given Infosyss global presence and scale, the partnership will also give us access to wider talent pools and capabilities.”As a part of the deal, Infosys will acquire Danske Banks IT centre in India, Danske IT, where 1,400 people are employed.
