Infosys & Temasek Float Joint Venture in Singapore

Infosys, a global leader in consulting, technology and next-generation services, on Friday announced the formation of a joint venture with Temasek, the global investment company headquartered in Singapore. The joint venture is expected to integrate teams from Infosys and the operations of Temasek’s wholly owned subsidiary in Singapore, Trusted Source Pte Ltd. The Temasek subsidiary, at present, delivers IT services to Temasek and a number of other clients.

As part of the transaction, Infosys will acquire a 60 percent stake in the joint venture and Temasek will hold 40 percent. The agreement was signed by the parties last night and is effective immediately.

Infosys and Temasek see important synergy and strategic alignment in the joint venture. Infosys gains significant capacity in terms of workforce, as it focuses on strengthening its footprint in Southeast Asia, while Temasek will see a rapid enhancement of its IT services. It will be done 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, Cybersecurity, Digital Experiences and AI & automation, and more.

The joint venture, top company officials said, will eventually support Temasek’s digital transformation journey, managing a complex Cloud migration programme that will enable Temasek to host its applications on a cloud platform.

Shveta Arora, who is currently the Vice President at Infosys, will take over as the Chief Executive Officer of the JV. Singapore will be the headquarters of the new JV company, and more than 200 employees and contractors from Trusted Source will be part of it on establishment side, in addition to Infosys staff members who will join over a period of time.

In line with Infosys’ commitment, to invest in advanced technologies and skills for its workforce, employees of the joint venture will have access to the company’s world-class education and training capabilities that will enable them to provide excellent professional services and have rewarding career paths.

Mohit Joshi, President, Infosys, said that Infosys will leverage its digital skills, learning capabilities and transformation experience to help enhance operations across Temasek’s global business. The joint venture with Temasek will accelerate its efforts in the region, enhancing its existing presence, as it helps clients navigate the next journey in their business transformation. This development is a key element of the company’s continued efforts to invest and have a presence in the regions in which it operates, he said.

Jon Allaway, Chief Technology Officer, Temasek, said that this had come as an opportunity to build this joint venture with Infosys, and provide those who support its business, at Trusted Source, the ability to further develop their careers with one of the world’s leading technology service providers. The partnership will also help unlock new capabilities and technology platforms that help Temasek as the organization continues our growth as a Singapore-headquartered investor, with a global presence, said Allaway.