Infosys targets Southeast Asia growth with Temasek joint venture
Infosys has set up a joint venture with Singapore's state-own investment firm, Temasek Holdings, with the aim to expand its footprint in Southeast Asia and boost support for customers in the region.
The Indian IT consulting vendor would own 60 percent of the joint venture, to be headquartered in Singapore, with its vice president Shveta Arora leading the entity as CEO, the companies said in a joint statement Friday.
Temasek would hold the remaining 40 percent stake as well as provide more than 200 employees from its wholly-owned subsidiary Trusted Source, which offers IT services to Temasek and other clients, to support the new entity. The agreement would see Trusted Source's operations and team integrated into the joint venture as well as the transfer of some Infosys employees "over time", the two partners said.
Trusted Source's portfolio included cloud, data analytics, cybersecurity, and artificial intelligence.
They said the partnership would provide Infosys "significant capacity in terms of workforce" as it looked to beef up its footprint in Southeast Asia, while Temasek would enjoy "rapid enhancement of its IT services".
The joint venture would support Temasek's own digital transformation efforts, encompassing a cloud migration plan that would allow the Singapore company to host its applications on a cloud platform.
Infosys President Mohit Joshi said: "Our joint venture with Temasek will accelerate our efforts in the region, enhancing our existing presence as we help clients navigate the next journey in their business transformation. This development is a key element of our continued efforts to invest and have a presence in the regions in which we operate."