New Delhi, May 17 -- IT services firm Infosys has announced a multi-year collaboration with Australian telecom company Telstra. The Bengaluru-headquartered company will offer software engineering and IT innovation and solutions to Telstra. The financial details of the deal has not been disclosed
Under this partnership, Telstra will leverage Infosys' Topaz and Cobalt suite of services for artificial intelligence (AI) and cloud. Additionally, Infosys will introduce modern product engineering practices to elevate its customer and employee experience.
"Infosys has a long-standing association with Telstra supporting its many evolutions over the last two decades and we're excited to work with them on the next chapter of this journey. By leveraging Infosys Cobalt and Infosys Topaz, we can help Telstra accelerate its strategy for growth," said Salil Parekh, chief executive officer, Infosys.
To be sure, at the Q4FY24 financial results declaration in April, the company reported a 12.3% revenue from the communication segment, up from 11.4% in the quarter ending December 2023. On a year-on-year basis, there has been a 4.7% growth. Communication, energy and utilities, and Hitech have been the only segments that have shown growth in revenue on a sequential basis.
To be sure, in August, Infosys secured a five-year contract with Liberty Global, a European telecom and communications conglomerate. The initial phase of this engagement was valued at approximately 1.5 billion euros (approximately $1.64 billion). This is an extension of their initial collaboration signed in February 2020. Infosys will now be responsible for developing and running Liberty Global's Horizon entertainment and connectivity platforms. Additionally, the company also aims to add its Topaz AI offerings, the company had then announced.
Published by HT Digital Content Services with permission from TechCircle.