Infosys has entered into a joint venture with Temasek’s wholly-owned subsidiary Trusted Source in Singapore, boosting Temasek’s digital transformation efforts in the process.
As part of the agreement, Infosys will acquire a 60 per cent stake in the joint venture while Temasek will hold 40 per cent.
Headquartered in Singapore, the joint venture will integrate teams from Infosys and the operations of Trusted Source, which currently delivers IT services to Temasek and a number of other clients.
The formation of this joint venture will see 200 employees and contractors from Trusted Source play an active role in its success as well as staff from infosys who will join over time and will be headed by Shveta Arora, vice president at Infosys, as CEO.
"Infosys will leverage its digital skills, learning capabilities and transformation experience to help enhance operations across Temasek's global business,” said Mohit Joshi, president of Infosys.
“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."
A mutually beneficial venture, Infosys is set to gain significant capacity in terms of its workforce as it focuses on strengthening its footprint in Southeast Asia, while Temasek will see an enhancement of its IT services through the augmented capabilities of the joint venture entity.
Trusted Source will provide Temasek and its other clients in the region solutions and technologies across cloud, data & analytics, cyber security, digital experiences and AI & automation, and more.
"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,” said Jon Allaway, CTO of Temasek.
"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."
Furthermore, Temasek will see a boost to its digital transformation efforts through the managing of a complex cloud migration program that will enable Temasek to host its applications on a cloud platform.
Additionally, those employed through the joint venture will have access to Infosys’ education and training capabilities boosting their professional services capabilities.