Two months after losing a multi-year contract worth $1.5 billion, IT major Infosys has started the year 2024 on a high note, securing two significant contracts, according to a livemint report citing industry sources. It said the most recent deal is a multi-year contract worth $300 million with Singapore’s shipping company Pacific International Lines (PIL) running until 2027.
The Singapore deal came after a seven-year agreement with Irish food retailer Musgrave on January 31 to automate its IT functions using AI and cloud solutions.
In the PIL deal, “Infosys will help revamp PIL’s existing customer portal and deploy a scalable and modern technology platform for them. This will enable PIL to further their ‘Driving Connectivity’ mission, which is aimed at connecting their businesses across the markets that they serve. In addition, PIL’s web and mobile applications will undergo a comprehensive overhaul to simplify user experience and enhance customer engagement”, Infosys has said in a regulatory filing.
In December, Infosys had said a global company has decided to terminate a multi-year contract worth $1.5 billion with it. On September 14, 2023, Infosys announced a pact with a global company to offer enhanced digital experiences alongside modernisation and business operations services leveraging Infosys platforms and AI (artificial intelligence) solutions.
The deal loss came at a time when global uncertainties and macro headwinds have challenged IT and tech companies worldwide.
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