Infosys, Temasek form JV in Singapore

TIL Desk/Business/New Delhi/ India’s second largest IT services firm Infosys Friday said it has teamed up with Temasek to form a joint venture that will support the Singapore-based company’s digital transformation journey.

The joint venture — in which Infosys Consulting (Infosys subsidiary) holds 60 per cent stake — will be headquartered in Singapore, Infosys said in a statement.

The remaining stake will be held by Temasek through Franklin Investments, it said adding that the agreement was signed by the parties last night and is effective immediately.

The JV will integrate teams from Infosys and the operations of Temasek’s wholly owned subsidiary – Trusted Source – that currently delivers IT services to Temasek and a number of other clients.

As part of the transaction, more than 200 employees and contractors from Trusted Source will be part of the JV, in addition to Infosys staff who will join over time, the statement said.