Infosys had completed forming a joint venture (JV) with the Singapore-based global investment firm Temasek to service its clients across South East Asia in the digital space, said the software major on Friday.
“The JV will provide Temasek and its clients solutions in advanced technologies, including cloud, data and analytics, cyber-security, digital experiences and AI, said the city-based IT behemoth in a statement here.
The JV employees will be able to access the $11-billion company’s education and training capabilities to advance their technological skills.
The company, however, did not disclose the number of employees in the JV.
As per an agreement between the partners on September 6, Infosys holds 60 per cent equity stake in the JV’s unspecified paid-up capital and Temasek the remaining 40 per cent equity stake.
The 44-year-old Temasek owns a whopping $235 billion funds, with two-thirds of it invested in Singapore and the rest of Asia.
“The venture gives us synergy and strategic alignment in workforce to strengthen our presence in South East Asia, while Temasek will see our IT services enhanced through its augmented capabilities,” said Infosys in an earlier statement.
The venture will also support Temasek’s digital transformation journey, managing cloud migration programme to enable it host applications on a cloud platform.
As the JV’s partner, Trusted Source will provide Temasek and its other clients in the region solutions and technologies across cloud, data and analytics, cybersecurity, digital experiences and Artificial Intelligence and automation.
Infosys Vice-President Shveta Arora is the JV’s Chief Executive, with 200 techies of Trusted Source Pte Ltd joining it along with Infosys staff over time.
The JV will also accelerate Infosys’ efforts in the region, enhancing its presence, as it helps clients navigate the next journey in their business transformation.
Commenting on the JV, Temasek Chief Technology Officer Jon Allaway said the opportunity would provide support to its subsidiary (Trusted Source), ability to develop its employees’ careers with Infosys.
“The partnership will help unlock capabilities and technology platforms, as the organisation continues our growth with a global presence,” said Allaway in the statement earlier.
With offices in 11 locations across Asia, America and Europe, Temasek’s investments are guided by transforming economies, growing middle-income populations, deepening comparative advantages; and emerging champions.
Source: Business-Standard