Infosys eyes early extension, AI boost for $3-billion Daimler deal

India’s second-biggest information technology services company has begun work much in advance to expand its largest contract worth more than $3 billion, according to two people with knowledge of the matter. The Daimler project, dubbed ‘twice as fast program’ inside Infosys, has the company offering solutions in six areas—network, security, SAP basis, data centre, workplace, and operations—and assures it of average annual revenue of $400 million, according to the two people cited earlier. Infosys is looking to renegotiate and bolster the hardware and software business part with a seventh revenue arm—that of AI—into a new deal with Daimler, and expand the business by at least a year, from 2028 to 2029, according to the two people cited earlier. Infosys deal According to a third executive, Daimler is one of Infosys’s three largest clients, after Apple Inc. and JPMorgan Chase & Co. Two mega deals or contracts valued at more than $1 billion, with Daimler and Vanguard, the American money manager, were Infosys’s largest deals since incumbent chief executive officer Salil Parekh took over the reins in January 2018. For Infosys, the Daimler deal has helped business from manufacturing companies more than double in the past four years, from $1.3 billion revenue in the year ended March 2020 to $2.8 billion last year.