Infosys Secures USD 454 Million Deal with Danske Bank
Infosys, a leading digital transformation company, has announced a strategic collaboration with Denmark-based Danske Bank. The deal, valued at USD 454 million for a period of five years, aims to accelerate Danske Bank’s digital transformation initiatives. As part of the collaboration, Infosys will also acquire Danske Bank’s IT centre in India, which employs 1400 digitally skilled professionals.
“Danske Bank has chosen Infosys as its strategic partner to drive its digital transformation journey. With this collaboration, Danske Bank aims to improve customer experiences, achieve operational excellence, and modernize its technology landscape. Infosys, with its global expertise and industry solutions, will enhance the bank’s IT operations and capabilities using advanced solutions like Infosys Topaz, an AI-first set of services, solutions, and platforms.”
Deal Value and Acquisition
The estimated deal value for the collaboration is USD 454 million over a period of five years, with the option to renew for one additional year. Additionally, Infosys will acquire a 100% stake in Danske Bank’s IT centre in India through an all-cash deal for approximately Rs 16 crore. The transactions are expected to be completed before the second quarter of the financial year 2024, subject to customary closing conditions.
Salil Parekh, CEO and Managing Director of Infosys, expressed excitement about leveraging Infosys’ experience in financial services transformation to support Danske Bank’s strategic growth agenda. He stated, “Infosys will collaborate with Danske Bank to strengthen their core business with greater digital, cloud, and data capabilities. We aim to create more value for Danske Bank’s customers using powerful advances in AI, including generative AI.”
About Danske Bank
Danske Bank is a leading Nordic bank headquartered in Denmark. It provides banking services to personal and business customers, as well as large corporate and institutional customers. Danske Bank has chosen Infosys as its strategic partner to accelerate its technology transformation, optimize access to talent and capabilities, and enhance customer-facing digital solutions.
Frans Woelders, Chief Operating Officer of Danske Bank, highlighted the bank’s ambitions for digital and technology transformation. He said, “Our Forward ’28 strategy sets clear goals for Danske Bank to become a leading bank in the digital age. We have made significant investments in digitalization and technology to improve customer experiences and operational efficiency. Collaborating with Infosys will enable us to accelerate our transformation using cloud and AI technologies, while also providing access to wider talent pools and capabilities.”
Enhanced Localization Strategy in Nordics
Infosys has been actively expanding its presence in the Nordic region. With the acquisition of BASE Life Science in Denmark, Fluido in Finland, and the opening of new proximity centers, Infosys has further strengthened its localization strategy. The collaboration with Danske Bank aligns with Infosys’ commitment to the Nordics market and its focus on delivering innovative solutions.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
