Infosys to acquire Danske Bank’s IT center in India

Infosys has entered into a strategic collaboration with Danske Bank, one of the leading banks in the Nordic region, to expedite the bank's digital transformation efforts. As part of the collaboration, the IT giant will also acquire Danske Bank's IT center in India, which currently employs more than 1,400 professionals.

"We are delighted to bring our rich experience in financial services transformation to work for Danske Bank and help the bank accelerate its strategic growth agenda. Infosys will collaborate with Danske Bank to strengthen their core business with greater digital, cloud and data capabilities. This will help Danske Bank create more value for their customers using powerful advances in AI, including generative AI," said Salil Parekh, Chief Executive Officer & Managing Director, Infosys.

Danske Bank, which offers a wide range of banking services to personal, business, and institutional customers, has selected Infosys as its strategic partner to accelerate its technology transformation and increase access to talent and capabilities.

By leveraging its global experience and industry-specific solutions, Infosys will empower Danske Bank's digital agenda by significantly enhancing its IT operations and capabilities. This will be achieved via Infosys Topaz, an AI-driven suite of services, solutions, and platforms, along with experience design and operational support.

Infosys is excited to welcome the Danske India employees to its team as they embark on this transformative journey together.

In recent years, Infosys has made strategic investments in the Nordics, including the acquisition of BASE Life Science in Denmark and Fluido in Finland. Furthermore, the company has established proximity centres in Gothenburg, Sweden, and Oslo, Norway. The new partnership strengthens its localization strategy in the Nordics, enabling the company to better cater to the specific needs and demands of the region.

The transactions are expected to be completed before the second quarter of the fiscal year 2024, pending customary closing conditions.

"We have a strong starting point, and we want to further accelerate our digital and technology transformation. We have conducted a thorough process to find a partner that can help us achieve that. Infosys has the tools, experience, and expertise to support us in accelerating our transformation using cloud and AI technologies. Given Infosys' global presence and scale, this collaboration will also give us access to wider talent pools and capabilities," said Frans Woelders, Chief Operating Officer, Danske Bank.