Brief

Big wins for Infosys, TCS in ABN AMRO contract

ABN AMRO has signed a five-year 1.8 billion euro deal with five vendors—IBM, TCS, Infosys, Accenture and Patni Computer Systems—for its IT infrastructure applications, development and maintenance. Though the biggest winner is IBM, TCS and Infosys have walked away with their biggest-ever deals.

ABM AMRO signs the multi-million euro deal with Infosys

According to Infosys, this is the single-largest multi-year, multi-million euro contract it has ever won. Says V Balakrishnan, Senior VP & Company Secretary of the company, “Infosys has bagged a deal of committed business of applications, development and maintenance worth 108 million euros. IBM got a deal worth 1.5 billion euros for the infrastructural requirements of the bank, while TCS received a deal of committed business worth 200 million euros.”

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.

The ABN AMRO contract is expected to provide TCS an ideal platform to grow in emerging markets of Latin America and continental Europe. “In addition to the significant annual revenues it will generate, this is the first multinational global engagement that allows TCS to utilise its global delivery model in its entirety,” says S Ramadorai, CEO and MD of TCS.

States Nandan Nilekani, CEO, President & MD of Infosys, “This is a landmark deal for us. It clearly indicates that large offshore players such as 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.”

Following a competitive tender, ABN AMRO reached an agreement with the IT vendors to realise significant efficiencies across the global IT organisation.