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Infosys joint venture with Temasek gets going in Singapore
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SME Times News Bureau | 17 Nov, 2018
Infosys had completed forming a joint venture (JV) with the
Singapore-based global investment firm Temasek to service its clients
across South East Asia in the digital space, said the software major on
Friday.
"The JV will provide Temasek and its clients solutions in
advanced technologies, including cloud, data and analytics,
cyber-security, digital experiences and AI, said the city-based IT
behemoth in a statement here.
The JV employees will be able to
access the $11-billion company's education and training capabilities to
advance their technological skills.
The company, however, did not disclose the number of employees in the JV.
As
per an agreement between the partners on September 6, Infosys holds 60
per cent equity stake in the JV's unspecified paid-up capital and
Temasek the remaining 40 per cent equity stake.
The 44-year-old Temasek owns a whopping $235 billion funds, with two-thirds of it invested in Singapore and the rest of Asia.
"The
venture gives us synergy and strategic alignment in workforce to
strengthen our presence in South East Asia, while Temasek will see our
IT services enhanced through its augmented capabilities," said Infosys
in an earlier statement.
The venture will also support Temasek's
digital transformation journey, managing cloud migration programme to
enable it host applications on a cloud platform.
As the JV's
partner, Trusted Source will provide Temasek and its other clients in
the region solutions and technologies across cloud, data and analytics,
cyber security, digital experiences and Artificial Intelligence and
automation.
Infosys Vice-President Shveta Arora is the JV's Chief
Executive, with 200 techies of Trusted Source Pte Ltd joining it along
with Infosys staff over time.
The JV will also accelerate
Infosys' efforts in the region, enhancing its presence, as it helps
clients navigate the next journey in their business transformation.
Commenting
on the JV, Temasek Chief Technology Officer Jon Allaway said the
opportunity would provide support to its subsidiary (Trusted Source),
ability to develop its employees' careers with Infosys.
"The
partnership will help unlock capabilities and technology platforms, as
the organisation continues our growth with a global presence," said
Allaway in the statement earlier.
With offices in 11 locations
across Asia, America and Europe, Temasek's investments are guided by
transforming economies, growing middle income populations, deepening
comparative advantages; and emerging champions.
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