Markets

News Details

( 07 Sep 2018)
Infosys forms joint venture with Temasek

Infosys, a global leader in consulting, technology and next - generation services has said that it has formed a joint venture with Temasek, the global investment company 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 (“ Trusted Source ” or the “joint venture” ), which currently delivers IT services to Temasek and a number of other clients .

As part of the transaction, Infosys will acquire a 60% stake in the joint venture and Temasek will hold 40% . The agreement was signed by the parties and is effective immediately.

Infosys and Temasek see important synergy and strategic alignment in the joint venture. Infosys gains significant capacity in terms of 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 will provide Temasek and its other clients in the region solutions and technologies across Cloud, Data & Analytics, Cybersecurity, Digital Experiences and AI & automation, and more.

Meanwhile, shares of the company were trading at Rs 931.75 apiece up 0.55 per cent from the previous close at 09:26 hrs on BSE.