As stated by a news agency, Infosys has emerged as the first runner for a multi-bagger 1.5 billion USD Pfizer IT outsourcing deal. As per the sources, the company is into the last few rounds of negotiation. If Infosys seals this deal with Pfizer, it will add a good amount to the existing total contract value (TCV) of nearly 12 billion USD, which Infosys has got in the last nine months.
With this last quarter of the financial year, Infosys’s TCV for this year is expected to reach a record high.
Pfizer is looking to leverage and enhance the solutions for digital transformation and modernizing the application stack. TCS is also trying to grab this contract from Pfizer.
Just a few days ago, Infosys won the 3.2 bn USD Daimler (a German automatic major) contract involving a massive infrastructure overhaul, and migration to a hybrid cloud environment. shares of the company rallied on Wednesday. By the end of the day, the market capitalization of Infy was around 5.3 lakh crore INR. Since March, the market capitalization of Infosys has been almost doubled. Winning large deals is one of the key pillars of its strategy.
Last year Infosys Vanguard deal valued at $1.5 billion, making its biggest deal by any Indian IT company. If Infosys seal this deal, it would be the third billion-dollar deal by Infosys in last 1 year.
In the year 2020, Infosys had a large deal TCV of more than 9 billion USD, 44 per cent higher than the previous years. It has geared up its sales information plan focused on strategic accounts, account expansion, and new account openings. It has added experienced deal directors and focused on improving the influencer team on strategic deals. Deal hunter’s compensation has been linked to outcomes – opening priority accounts and increasing the net new on long-term revenue from its clients.
Infosys has worked with Pfizer in the past also. Pfizer has deployed Infosys’s AI platform Nia to enhance its global operations’ efficiency, including infrastructure operations, R&D, and app management. Nia has helped reduce the overall cost of ownership by 10 per cent, ensured 100 % FDA compliance for automated tickets, and increased productivity related to critical operation by 20 %.
Biden administration recently finalized a deal for 200 million vaccine doses from Pfizer and Moderna. Pfizer played a key role in covid-19 vaccine development and definitely will need a robust digital transformation in the coming weeks and months to run the business smoothly and more efficiently. Considering recent billion-dollar deals by Infosys and previous partnership, Infosys Pfizer deal can be another Billion dollar deals in the Indian Information Technology Industry.
This is a developing story, and we have not received or found any official comments from Infosys or Pfizer.