Singapore-headquartered global investment firm Temasek has formed a joint venture with Indian software services giant Infosys to boost its digital transformation journey, according to an official release.
The joint venture will integrate teams from Infosys and the operations of Temasek’s wholly owned subsidiary in Singapore, Trusted Source Pte Ltd which currently delivers IT services to Temasek and a number of other clients.
As part of the transaction, Infosys will acquire a 60 per cent stake in the joint venture and Temasek will hold 40 per cent. The agreement has taken effect on Thursday.
Through the JV, 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 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.
It will bolster Temasek’s digitalization by managing a complex cloud migration program that will enable Temasek to host its applications on a cloud platform.
Infosys and Temasek have named Shveta Arora, Vice President, Regional Head – South East Asia, as Chief Executive Officer.
“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 Jon Allaway, Chief Technology Officer, Temasek.
“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,” said Mohit Joshi, President, Infosys.
The move came shortly after Temasek announced a joint venture with Singapore telecom firm StarHub Ltd. named Ensign InfoSecurity Pte. Ltd on September 5.
Ensign will operate as one of Asia’s largest integrated pure-play cyber-security firms. It is a merger between cyber-security firms Quann and Accel Systems & Technologies, which are subsidiaries of Temasek and StarHub.