Infosys signs strategic deal with Europe’s STARK Group for its digital transformation
In a regulatory filing, Infosys will adopt an ‘AI first’ approach powered by Infosys Topaz, to empower STARK Group with AI-driven operational efficiencies and service quality.
Tech major Infosys on Tuesday announced that it has entered a strategic multi-year collaboration with STARK Group, Europe’s largest retailer and distributor of building materials, to power its digital transformation journey leveraging the recently launched Infosys Topaz.
Infosys Topaz is an AI-first set of services, solutions and platforms using generative AI technologies. As part of this collaboration, Infosys and STARK Group will establish a state-of-the-art data center in Denmark, which will serve as the foundation to drive technological advancements and provide seamless services to STARK Group’s offices across Europe.
In a regulatory filing, Infosys will adopt an ‘AI first’ approach powered by Infosys Topaz, to empower STARK Group with AI-driven operational efficiencies and service quality.
Besides, Infosys intends to utilise its Live Enterprise Application Management Platform (LEAP), a cloud-enabled platform, to provide NextGen Application Management Services and part of Infosys Cobalt, and help drive automation in STARK Group’s IT landscape with an objective to continuously improve and innovate their IT operations.
Infosys will further aim to enable STARK Group to improve cost and operation efficiency and help them scale across multiple geographies.
“We look forward to enhancing the quality of our offerings and kickstarting many new innovations,” Pernille Geneser, Group CIO of the STARK Group said.
Karmesh Vaswani, EVP and Global Head of Retail, Consumer Goods & Logistics at Infosys said that the collaboration further strengthens the company’s presence in the Nordic region.
STARK Group operates more than 1,150 branches and distribution centres across Europe through its subsidiaries: STARK Building Materials UK Ltd. in the United Kingdom, STARK Deutschland GmbH in Germany and Austria, STARK Danmark A/S in Denmark and Greenland, Beijer Byggmaterial AB in Sweden, STARK Suomi Oy in Finland and Neumann Bygg AS in Norway. STARK Group, is owned by CVC Capital Partners Fund VII, has approximately 20,000 employees and annual net sales of approximately EUR 9 billion.
The shares of Infosys closed at Rs 1500.80, up by 1.66 per cent. The stock is now 1.5 per cent away from turning positive for 2023.
Recently, Infosys announced a strategic collaboration with Danske Bank to power the bank’s digital transformation, which further enhanced Infosys’ localisation strategy in the Nordics.
Earlier, Infosys had acquired BASE Life Science in Denmark and Fluido in Finland.
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