Infosys sets up joint venture with Temasek to expand in S-E Asia
07 Sep 2018
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Infosys today announced the formation of a joint venture with Singapore government’s investment arm Temasek, under which the Indian technology major will take a 60 per cent stake in Trust Services Pte Ltd, which currently delivers IT services to Temasek and a number of other clients.
The joint venture will integrate teams from Infosys and Trusted Source Pte Ltd,Temasek’s wholly owned subsidiary in Singapore.
As part of the transaction, Infosys will acquire a 60 per cent stake in the joint venture and Temasek will hold 40 per cent. The agreement was signed by the parties last night and is effective immediately, a joint release stated.
Both 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 solutions and technologies across Cloud, Data & Analytics, Cybersecurity, Digital Experiences and AI & Automation, and more to Temasek and its other clients in the region.
The joint venture will support Temasek’s digital transformation journey, managing a complex Cloud migration programme that will enable Temasek to host its applications on a cloud platform.
Infosys and Temasek have named Shveta Arora, vice president at Infosys, as chief executive officer of the joint venture, which will be headquartered in Singapore. The joint venture will have more than 200 employees and contractors from Trusted Source on its establishment, in addition to Infosys staff who will join over time.
"Infosys will leverage its digital skills, learning capabilities and transformation experience to help enhance operations across Temasek’s global business. 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," Mohit Joshi, president, Infosys, said.
"We warmly welcome the opportunity to build this joint venture with Infosys, and provide those who support our business, at Trusted Source, the ability to further develop their careers with one of the world’s leading technology service providers. The partnership will also 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," Jon Allaway, chief technology officer, Temasek, said.
Infosys, a global leader in consulting, technology and next-generation services, today announced the formation of a joint venture with Temasek, the global investment arm of the Singapore government. 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.
As part of the transaction, Infosys will acquire a 60 per cent stake in the joint venture and Temasek will hold 40 per cent. The agreement was signed by the parties last night and is effective immediately, a joint release stated.
Both 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.
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