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BENGALURU, India, May 16, 2023 /PRNewswire/ -- Infosys (NSE: INFY) (BSE:INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting and bp, a global integrated energy company, announced the signing of a Memorandum of Understanding (MoU) on May 10 to demonstrate their intent for Infosys to be bp's primary partner for end-to-end application services, including development, modernization, management and maintenance. This strategic engagement further strengthens the long-standing relationship, spanning over two decades, between the two companies.
As bp pivots towards becoming an integrated energy company with the ambition to be a net zero company by 2050 or sooner and to help the world get to net zero, bp and Infosys will together focus on modernizing bp's application landscape to enhance business resilience, drive value from operational efficiencies, and build more adaptive and agile processes to speed up innovation. The companies will continue to explore more avenues for bp to advance sustainability, DE&I and other social impact initiatives.
Leigh-Ann Russell, EVP, Innovation & Engineering, bp, said, "We are delighted to further develop our relationship with Infosys to help accelerate our digital transformation and scale growth through tech-enabled operations. Together, we look forward to delivering innovative solutions that meet the evolving needs of our customers and drive growth for the future."
Salil Parekh, CEO & MD, Infosys, said, "This is a strategic milestone in our long-standing relationship with bp. As we see global momentum in energy transition, building a strong digital core and scaling it to maximize operational efficiency is a key business imperative. We are now jointly working towards enhancing digital maturity, productivity, and driving innovation for bp. Together, we will leverage the power of digital technologies and advancements in AI to deliver solutions that will help to transform bp's operational landscape and drive business growth."
About bp
bp's purpose is to reimagine energy for people and our planet. It has set out an ambition to be a net zero company by 2050 or sooner and help the world get to net zero, and a strategy for delivering on that ambition. For more information, visit bp.com.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, in more than 50 countries, as they navigate their digital transformation powered by the cloud. We enable them with an AI-powered core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India and the US, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2022. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
