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Indian IT major, Infosys announced a joint venture with Temasek in Singapore. The joint venture Trusted Source Pte, which currently delivers IT services to Temasek and a number of other clients, will integrate personnel from Infosys and the operations of Temasek’s wholly owned subsidiary in Singapore.
According to the transaction, Temasek will hold 40 per cent and Infosys will acquire a 60 per cent stake in the joint venture. Infosys and Temasek have named Shveta Arora, Vice President, Regional Head – South East Asia, as the chief executive officer (CEO).
“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,” Mohit Joshi, President of Infosys said in the statement.
With this transaction, Infosys aims to gains significant capacity in terms of the workforce as it focuses on its expansion of business in Southeast Asia, while Temasek aims to see a rapid improvement of its IT services through the augmented capabilities of the joint venture entity.
