Information technology (IT) major Infosys announced on Saturday, December 23 that the company has terminated its $1.5 billion deal with a secretive global company focused on artificial intelligence (AI) solutions signed in September.
The Salil Parekh-led IT services giant announced the $1.5 billion contract for a 15-year period, signed on September 14, 2023, according to a report by business newspaper Economic Times.
“This is a continuation of the disclosure made by Infosys video letter dated September 14, 2023, titled ‘company update’ with respect to a Memorandum of Understanding with a global company that was submitted to parties signing a Master Agreement,” said. Infosys in regulatory filing to the stock exchanges.
”The global company has now chosen to terminate the Memorandum of Understanding and the parties will not pursue the Master Agreement,” Infosys added.
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Published: 23 Dec 2023, 17:22 IST
(tagsTo Translate) infosys