IT major Infosys has joined hands with Temasek, an investment firm headquartered in Singapore, to set up a joint venture.
Infosys will hold 60% stake in the venture. The rest will be held by Temasek.
“The joint venture will integrate teams from Infosys and the operations of Temasek’s wholly-owned subsidiary in Singapore, Trusted Source Pte. Ltd., which currently delivers IT services to Temasek and a number of other clients,” the company said in a statement.
The JV will see Infosys gain significant capacity in terms of the workforce as it focuses on strengthening its footprint in Southeast (SE) Asia. Temasek will see a rapid enhancement of its IT services through the augmented capabilities of the joint venture entity. The JV would provide Temasek and its other clients in the region solutions and technologies across cloud, data and analytics, cybersecurity, digital experiences and AI and automation.
Digital transformation
The JV would support Temasek’s digital transformation journey, managing a complex cloud migration programme that would enable Temasek to host its applications on a cloud platform, according to the statement. Infosys and Temasek have named Shveta Arora, vice-president, Infosys, as the chief executive officer.
The entity would be headquartered in Singapore and more than 200 employees and contractors from Trusted Source would be part of the establishment in addition to Infosys staff who would join over time.
“This development is a key element of our continued efforts to invest and have a presence in the regions in which we operate,” said Mohit Joshi, president, Infosys.
Jon Allaway, chief technology officer, Temasek, said the partnership would “help unlock new capabilities and technology platforms that help Temasek as the organisation continues our growth as a Singapore-headquartered investor with a global presence.”
