Infosys forms joint venture with Singaporebased Temasek Holdings

MUMBAI:IT services major Infosys Ltd has formed a joint venture with Singapore-based global investment firm Temasek, the company said on Friday.

The joint venture will integrate teams from Infosys and the operations of the Temasekowned subsidiary in Singapore Trusted Source Pte Ltd, which delivers IT services to Temasek and several other clients. Infosys will acquire a 60% stake in the JV, while Temasek will hold 40%.

Incorporated in 1974, Temasek today has offices in 11 locations in Asia, Americas and Europe and had assets under management of $235 billion.

“Infosys and Temasek see important synergy and strategic alignment in the JV. 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 JV entity,” according to the statement by the company.

Trusted Source will provide services across cloud, data and analytics, cybersecurity, digital experiences and AI and automation.

“Infosys will leverage its digital skills, learning capabilities and transformation experience to help enhance operations across Temasek’s global business,” said Mohit Joshi, president at Infosys Ltd.