Infosys announced it will acquire 60% stake in a joint venture formed on Thursday with Temasek, an investment firm headquartered in Singapore.
“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,” according to a company statement.
Infosys would gain significant capacity in terms of the workforce as it focuses on strengthening its footprint in Southeast Asia, while Temasek will see a rapid enhancement of its IT services through the augmented capabilities of the joint venture entity.
Trusted Source, the joint venture, will provide Temasek and its other clients in the region solutions and technologies across cloud, data and analytics, cybersecurity, digital experiences, and AI and automation.
The joint venture will support Temasek’s digital transformation journey, managing a complex Cloud migration program that will enable Temasek to host its applications on a cloud platform, according to the statement.
Infosys and Temasek have named Shveta Arora, vice president at Infosys, as Chief Executive Officer. The joint venture will be headquartered in Singapore, and more than 200 employees and contractors from Trusted Source will be part of it on the establishment, in addition to Infosys staff who will 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,” Mohit Joshi, president of Infosys said.
Jon Allaway, chief technology officer, Temasek, said the partnership will “help unlock new capabilities and technology platforms that help Temasek as the organization continues our growth as a Singapore-headquartered investor, with a global presence.”