- Contract Seen as a Landmark Deal in the IT Services Industry
Infosys Technologies (NASDAQ:INFY) today announced it has signed a five
year global deal to develop, support and enhance a wide spectrum of
applications for ABN AMRO. This is the single largest multi year multi
million Euro contract ever won by Infosys. The Infosys share of the overall
contract includes committed volumes in North America, Europe and Asia Pacific
and the right to bid as a top five service provider for Application
Development projects at the Dutch global bank.
Following a competitive tender, ABN AMRO has reached an agreement with
the selected IT vendors to improve the performance of its IT services and
realise significant efficiencies across the global IT organisation.
"This is a landmark deal for Infosys" said Nandan M. Nilekani, CEO,
President and Managing Director, Infosys. "This deal clearly indicates that
large offshore players like us have a competitive business model to deliver
large, global, multi-year contracts. The deal also signifies a trend towards
strategic global sourcing, where customers are selecting multiple,
best-of-breed vendors to help improve efficiencies in their IT service
"Our differentiation in the marketplace enables us to be a premium player
even in such large multi year contracts", he added.
Infosys has been aggressively expanding the depth and breadth of its
service offerings over the years, investing in industry-specific capabilities
and solutions, particularly in the Financial Services sector. This, along
with the proven robustness and predictability of Infosys' global delivery
engine were key factors that enabled the company to win this contract.
BG Srinivas, Senior Vice President EMEA, Infosys commented: "Our
investments in building world-class capabilities are beginning to pay off.
Blue-chip clients like ABN AMRO are seeing us as strategic partners because
of our process and domain capabilities which help us deliver on business
needs across multiple geographies around the world."
Jitin Goyal, Associate Vice President EMEA, Infosys summarised: "We are
seeing increased acceptance of the Global Delivery Model for IT services
amongst European companies, and we believe we are at the tipping point in
this European evolution. We are looking forward to a long term partnership
with ABN AMRO that delivers global value to the organisation both today and
in the future."