BrazilInfosys forms joint venture with Singapore state investment firm Temasek
Indian-origin technology services and consulting giant Infosys has set up a joint venture with Singapore state investment agency Temasek in a mutually strategic move to enhance their market capacities.
The joint venture will see more than 200 employees from Temasek subsidiary and IT services provider Trusted Source join with a team from Infosys to help support Temasek’s digital transformation initiatives while providing Infosys with a significant boost in the Southeast Asian market – with the 60-40 Infosys-Trusted Source joint entity to be headquartered in Singapore. The new arrangement is effective immediately, with the all-cash deal expected to close by the end of the first quarter next year.
Infosys President Mohit Joshi 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.”
Infosys Vice President Shveta Arora meanwhile has been named as the entity’s new Chief Executive Officer. Arora has been with the firm since the turn of the century, crossing from its consulting wing in 2005 as a Client Partner & Group Manager in the US following an earlier Senior Associate stint with strategy and management firm A.T. Kearney in New Delhi. Most recently, she has served as Infosys Regional Head for APAC & MEA in its Retail, Manufacturing and Logistics division.
In a joint statement, Infosys and Temasek further elaborated on the details of the arrangement, with Trusted Source to provide Temasek and its other regional clients with enhanced technology solutions in the areas of data analytics, artificial intelligence, automation and cybersecurity. In addition, the joint entity will manage a complex migration for Temasek, which will enable the investment firm to host its applications on a cloud platform.
Noting the ‘important synergy and strategic alignment in the joint venture’, the Indian multinational tech services and consulting firm will in turn gain a stronger foothold in one of the digital capitals of the world in Singapore, along with better access to an emergent Southeast Asia and a ‘significant’ capacity boost in its regional workforce. Currently, Infosys has ASEAN branches in Singapore, Malaysia and the Philippines, together with Asian offices in Greater China, Japan, South Korea and Taiwan.
Temasek’s Chief Technology Officer Jon Allaway said of the new alliance; “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.”
