Infosys and Temasek form JV in Singapore

Software major Infosys and global investment company Temasek's arm Trust Source announce the formation of a joint venture company to deliver digital transformation service to Temasek and its clientele.

Following the transaction, Infosys will acquire a 60 per cent stake in the JV and Temasek will have 40 stake. The venture will benefit from strategic synergy and help Infy expand its customer base in Southeast Asia. The JV will be based in Singapore and provide cloud, data analytics, cybersecurity and AI services.

Infy and Temasek have appointed Shveta Arora as the CEO of the company who is currently the Infosys' Vice President, Regional Head - South East Asia.

Temasek is an investment company with US$235 billion portfolio, as on March 2018. The company has a network of 11 international offices in Asia, Americas and Europe.

Meanwhile, the stock of Infosys Limited opened at Rs. 733.05 per share on Friday and at 10:04 hours, the stock was at Rs. 726.00 per share, down by 0.27 per cent on BSE. The stock had turned ex-bonus in the ratio of 1:1 on September 3, 2018.

The benchmark index BSE Sensex was 38,185.97, down by 56.84 point or 0.15 per cent on Friday's morning session.