As per the reports Infosys, a renowned global tech services and consulting company, has entered into a strategic partnership with Danske Bank, a prominent Nordic bank. The collaboration aims to expedite Danske Bank's digital transformation endeavors by leveraging Infosys' expertise in technology and innovation.

According to the information the deal valued at approximately $454 million, is slated to span a period of five years, with an option for renewal for an additional year, potentially extending the partnership up to three times. The acquisition of Danske Bank's India IT centre is projected to be finalized prior to the second quarter of FY24, signaling a notable step forward in the evolution of both organizations.

Danske Bank, a prominent financial institution headquartered in Denmark, serves a wide range of clients including individuals, businesses, large corporations, and institutional customers, providing comprehensive banking services. “The 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 in a statement.

As a part of this collaboration Infosys will also acquire Danske Banke’s IT centre in India which employs over 1400 professionals. This will strengthen the bank's digital agenda and enhance its IT operations and capabilities. The centre will support the acceleration of Danske Bank's digital transformation using Infosys Topaz, an AI-first platform.

Bengaluru-based Danske IT and Support Services India Private Limited (DIT) is a fully owned subsidiary of Danske Bank, established in 2012.

Frans Woelders, Chief Operating Officer of Danske Bank, stated, “Our Forward ’28 strategy sets clear ambitions for Danske Bank to be a leading bank in the digital age. This is backed by significant investments in digitalisation and technology, including plans to further develop our customer-facing digital solutions, and modernising our technology infrastructure to enable even better customer experiences and drive operational efficiency. We have a strong starting point, and we want to further accelerate our digital and technology transformation.”

Salil Parekh, the Chief Executive Officer and Managing Director of Infosys, announced that the company will join forces with Danske Bank to enhance its core business through advanced digital, cloud, and data capabilities. “This will help Danske Bank create more value for their customers using powerful advances in AI, including generative AI.”

Highlighting the significance of the Nordics as a strategic market, Infosys aims to fortify its localisation strategy in the region through collaboration. This follows Infosys' previous acquisitions of BASE Life Science in Denmark in 2022 and Fluido in Finland in 2018, which have contributed to its growing presence in the area. In line with its expansion plans, Infosys has recently established new proximity centers in Gothenburg, Sweden, and Oslo, Norway.

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