Information technology (IT) major Infosys announced on Saturday, December 23 that the company has terminated its $1.5 billion agreement with an undisclosed global company, focused on artificial intelligence (AI) solutions, signed in September.

The Salil Parekh-led IT services giant had announced the $1.5 billion contract for a 15-year period, inked on September 14, 2023, according to a report by business daily Economic Times. ‘’This is in continuation to the disclosure made by Infosys vide letter dated September 14, 2023, titled “company update” with respect to a Memorandum of Understanding with a global company which was subject to parties entering into a Master Agreement,” said Infosys in a regulatory filing to the stock exchanges. ‘’The global company has now elected to terminate the Memorandum of Understanding and the parties will not be pursuing the Master Agreement,” Infosys added. MORE TO COME Livemint tops charts as the fastest growing news website in the world to know more.
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