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Infosys in JV with Temasek for cloud, AI tech, expanding SE Asia presence

As part of the agreement, Infosys will acquire 60 per cent in the joint venture entity in lieu of which the company would invest up to $8.7 million while Temasek will hold the rest

Debasis Mohapatra  |  Bengaluru 

Infosys
In terms of board representation, the JV will have three members from Infosys with the remaining two coming from Temasek

India’s second largest company has formed a joint venture with Singapore's state fund that will help the Bengaluru-headquartered firm increase its footprint in by offering services in areas like cloud, analytics, artificial intelligence (AI) and automation.

As part of the agreement, will invest up to $8.7 million to acquire 60 per cent in the joint venture entity, while will hold the rest. Around 200 of Temasek’s employees who were part of its wholly-owned subsidiary in Pte Ltd, will be part of the joint venture, while Infosys’s staff will join over time.

Trusted Source currently delivers to and a number of other clients in the region.

"gains significant capacity in terms of the workforce as it focuses on strengthening its footprint in Southeast Asia, while Temasek will see a rapid enhancement of its through the JV entity," Infosys said in a filing with the exchanges.

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The joint venture entity will provide Temasek and its other clients, solutions and technologies across cloud, data & analytics, cybersecurity, AI and automation among others, it added.

In terms of board representation, the JV will have three members from Infosys with the remaining two coming from Temasek.

"Infosys will leverage its digital skills, learning capabilities and transformation experience to help enhance operations across Temasek’s global business. This JV will also accelerate our efforts in the region, enhancing our existing presence," said Mohit Joshi, president at Infosys.

Headquartered in Singapore, Temasek is a state-run fund house with an investment portfolio of around $235 billion by the end of March 2018.

First Published: Fri, September 07 2018. 12:36 IST
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