India's Coforge secures over $230 million AI transformation contract with European client
India's Coforge secures over $230 million AI transformation contract with European client July 24 (Reuters) - India's Coforge COFO.NS said on Friday it had secured a five-year contract worth more than $230 million with a major European client, without naming the customer, for an AI-led business transformation program.
Here are the details:
The IT services company said the engagement, one of its largest AI-led transformation deals in Europe, will combine low-code/no-code platforms, AI-powered automation and AI-enabled software development to modernize the client's business operations
The contract is expected to improve decision-making, boost productivity, reduce manual effort and speed up service delivery, Coforge said in an exchange filing
Shares of Coforge extended gains to trade as much as 1.72% higher at a session high of 1,464.70 rupees after the company announced the contract
The deal reflects growing demand for enterprise-scale AI transformation as organizations move beyond pilot projects to broader AI adoption, Coforge's president and Europe business leader John Speight said
(Reporting by Surbhi Misra in Bengaluru; Editing by Nivedita Bhattacharjee)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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