Infosys to expand in Southeast Asia with Temasek joint venture; to have majority stake in Singapore venture

Bengaluru: India’s second-largest software services exporter Infosys Ltd said on Friday it formed a joint venture with Singapore state investor Temasek as it expands its presence in Southeast Asia. Temasek, a global investment company headquartered in Singapore, looks to enhance its IT services through the venture in which Infosys will hold a 60 percent stake and Temasek 40 percent, Infosys said in a statement. Infosys and Temasek see important synergy and strategic alignment in the joint venture. While Infosys gains significant capacity in terms of the workforce as it focuses on strengthening its footprint in Southeast Asia, Temasek will see a rapid enhancement of its IT services through the augmented capabilities of the joint venture entity, a company statement said. Trusted Source will provide Temasek and its other clients in the region solutions and technologies across Cloud, Data and Analytics, Cybersecurity, Digital Experiences and AI and automation, and more. The joint venture will support Temasek’s digital transformation journey, managing a complex Cloud migration program that will enable Temasek to host its applications on a cloud platform. The joint venture will integrate teams from Infosys and the operations of Temasek’s unit in Singapore, Trusted Source Pte Ltd, which currently delivers IT services to Temasek and a number of other clients. [caption id=“attachment_3946767” align=“alignleft” width=“380”]  Representative image Reuters[/caption] Headquartered in Singapore, the joint venture will have more than 200 employees and contractors from Trusted Source, while Infosys staff will join over time. The companies named Shveta Arora, Infosys vice president and regional head in South East Asia, as chief executive officer of the new venture. Mohit Joshi, President, Infosys, said, “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.” Jon Allaway, Chief Technology Officer, Temasek, 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 organization continues our growth as a Singapore-headquartered investor, with a global presence.”