(Reuters) – India’s second-largest software services exporter Infosys Ltd said on Friday it formed a joint venture with Singapore state investor Temasek as it expands its presence in Southeast Asia.
A woman passes a logo of state investor Temasek Holdings at their office in Singapore July 8, 2014. REUTERS/Edgar Su/File Photo
Temasek looks to enhance its IT services through the venture in which Infosys will hold a 60 percent stake and Temasek 40 percent, Infosys said in a statement bit.ly/2NlWDEm.
The joint venture will integrate teams from Infosys and the operations of Temasek’s unit in Singapore, Trusted Source Pte Ltd, which currently delivers IT services to Temasek and a number of other clients.
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 companies named Shveta Arora, Infosys vice president and regional head in South East Asia, as chief executive officer of the new venture.
Reporting by Chris Thomas in Bengaluru; Editing by Darren Schuettler and Gopakumar Warrier