SINGAPORE: Singapore state investor Temasek and India's second-largest software services exporter Infosys on Friday (Sep 7) announced that they have formed a joint venture, a move that will support Temasek’s digital transformation journey.
The joint venture will integrate teams from Infosys and the operations of Temasek's unit in Singapore, Trusted Source, which currently delivers IT services to Temasek and a number of other clients, the companies said in joint press release.
AdvertisementAs part of the transaction, Infosys will hold a 60 per cent stake in the joint venture and Temasek will hold 40 per cent.
Headquartered in Singapore, the joint venture will have more than 200 employees and contractors from Trusted Source, while Infosys staff will join over time.
The joint venture will support Temasek’s digital transformation journey, managing a complex cloud migration programme that will enable the investment firm to host its applications on a cloud platform, the release said.
Infosys, on its part, will gain significant capacity in terms of workforce as it focuses on strengthening its footprint in Southeast Asia, the release added.
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