Infosys to acquire Danske Bank’s IT centre in India for $454 mn

New Delhi: IT major Infosys has bagged a digital transformation deal from Denmark-based Danske Bank estimated to be around USD 454 million for five years.

As part of the strategic collaboration with Danske Bank, Infosys will acquire Danske Bank’s IT centre in India, which employs 1400 digitally skilled professionals.

“Danske Bank, a leading Nordic bank, has selected Infosys as Strategic Partner to accelerate the bank’s digital transformation initiatives with speed and scale. This collaboration will help Danske Bank achieve its strategic priorities towards better customer experiences, operational excellence, and a modernised technology landscape, powered by next-gen solutions,” Infosys said.

Nordics is a strategic market for Infosys and this collaboration further enhances our commitment to the region.

“The estimated deal value is USD 454 million for a period of 5 years with an option to renew for one additional year for a maximum of three times,” the company said.

Infosys said that it will acquire a 100 per cent stake in Danske Bank’s IT centre in India in an all-cash deal for about Rs 16 crore, according to a regulatory filing.

“We expect the transactions to be completed before the second quarter of the financial year 2024, subject to customary closing conditions,” Infosys said in the filing. (PTI)