Infosys signs five year global IT deal with ABN AMRO
Contract seen as a landmark deal in the IT services industry
Bangalore, Sept 1, 2005: 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 delivery."
"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."