Indian software services provider Infosys yesterday said it has received a contract worth £1.2 billion ($1.59bn) from UK’s National Health Services Business Services Authority to replace its existing payroll platform.
The 15-year deal marks a major win for India’s second-largest IT firm at a time when the $283bn sector is grappling with a weak global economy, trade tensions and shifting US immigration rules.
Infosys said it would build a new, data-driven workforce management platform to replace NHS’ existing electronic staff record system, managing payroll for 1.9 million employees across England and Wales and processing more than £55bn annually.
The company is set to report its results for the July-September quarter tomorrow.
Its shares, which were trading flat for most of the day, briefly rose 0.6 per cent to 1,503 Indian rupees after the contract was disclosed. They closed 0.2pc down.
The deal ends the Bengaluru-based software service provider’s drought in mega deals, or contracts valued over $1bn. Infosys last won a mega deal two years ago, when it bagged a five-year contract with Liberty Global for $1.64bn. The contract could be extended to $2.5bn for an additional three years.
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