India's Coforge secures over $230 million AI transformation contract with European client

July 24 (Reuters) - India's Coforge 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)