Infosys and Temasek Announce Joint Venture in Singapore

PR75079

SINGAPORE, Sept. 7, 2018 /PRNewswire=KYODO JBN/--

             New entity to support Temasek's Digital Transformation Journey  

    Infosys [http://www.infosys.com ] (NYSE: INFY), a global leader in

consulting, technology and next-generation services, today announced the

formation of a joint venture with Temasek, the global investment company

headquartered in Singapore. The joint venture will integrate teams from Infosys

and the operations of Temasek's wholly owned subsidiary in Singapore, Trusted

Source Pte Ltd ("Trusted Source" or the "joint venture"), which currently

delivers IT services to Temasek and a number of other clients.

         (Logo: https://mma.prnewswire.com/media/633365/Infosys_Logo.jpg )

    As part of the transaction, Infosys will acquire a 60% stake in the joint

venture and Temasek will hold 40%. 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 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 will support Temasek's digital transformation journey,

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 at Infosys, as

Chief Executive Officer. The joint venture will be headquartered in Singapore,

and more than 200 employees and contractors from Trusted Source will be part of

it on establishment, in addition to Infosys staff who will join over 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, "Infosys will leverage its digital

skills, learning capabilities and transformation experience to help enhance

operations across Temasek's global business. 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."

    Jon Allaway, Chief Technology Officer, Temasek, said "We warmly welcome the

opportunity to build this joint venture with Infosys, and provide those who

support our 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."

    About Temasek  

    Incorporated in 1974, Temasek is a global investment company headquartered

in Singapore.  

    Supported by a network of international offices in 11 locations in Asia,

Americas and Europe, Temasek is the owner of a US$235 billion (S$308 billion)

portfolio as at 31 March 2018, with two thirds underlying exposure to Singapore

and the rest of Asia. Its investment activities are guided by four key themes

and the long term trends they represent:

    - Transforming Economies;

    - Growing Middle Income Populations;

    - Deepening Comparative Advantages; and

    - Emerging Champions.

    Temasek has offices in Singapore; and in New York, San Francisco,

Washington D.C., São Paulo and Mexico City in the Americas; London in Europe;

Beijing and Shanghai in China; Mumbai in India; and Hanoi in Vietnam.

    For more information on Temasek, please visit http://www.temasek.com.sg.

Connect with Temasek on social media: Facebook (Temasek); Twitter (@Temasek);

Instagram (@temasekseen); LinkedIn (Temasek) and YouTube (Temasek Digital)

    About Infosys

    Infosys is a global leader in next-generation digital services and

consulting. We enable clients in 45 countries to navigate their digital

transformation. With over three decades of experience in managing the systems

and workings of global enterprises, we expertly steer our clients through their

digital journey. We do it by enabling the enterprise with an AI-powered core

that helps prioritize the execution of change. We also empower the business

with agile digital at scale to deliver unprecedented levels of performance and

customer delight. Our always-on learning agenda drives their continuous

improvement through building and transferring digital skills, expertise, and

ideas from our innovation ecosystem.

    Visit http://www.infosys.com to see how Infosys (NYSE: INFY) can help your

enterprise navigate your next.

    Safe Harbor

    Certain statements in this release concerning our future growth prospects

are forward-looking statements regarding our future business expectations

intended to qualify for the 'safe harbor' under the Private Securities

Litigation Reform Act of 1995, which involve a number of risks and

uncertainties that could cause actual results to differ materially from those

in such forward-looking statements. The risks and uncertainties relating to

these statements include, but are not limited to, risks and uncertainties

regarding fluctuations in earnings, fluctuations in foreign exchange rates, our

ability to manage growth, intense competition in IT services including those

factors which may affect our cost advantage, wage increases in India, our

ability to attract and retain highly skilled professionals, restrictions on

immigration, industry segment concentration, our ability to manage our

international operations, reduced demand for technology in our key

focus areas, disruptions in telecommunication networks or system failures, our

ability to successfully complete and integrate potential acquisitions,

liability for damages on our service contracts, the success of the companies in

which Infosys has made strategic investments, withdrawal or expiration of

governmental fiscal incentives, political instability and regional conflicts,

legal restrictions on raising capital or acquiring companies outside India, and

unauthorized use of our intellectual property and general economic conditions

affecting our industry. Additional risks that could affect our future

operating results are more fully described in our United States Securities and

Exchange Commission filings including our Annual Report on Form 20-F for the

fiscal year ended March 31, 2018. These filings are available at

http://www.sec.gov [https://www.sec.gov ].

Infosys may, from time to time, make additional written and oral forward-looking

statements, including statements contained in the company's filings with the

Securitiesand Exchange Commission and our reports to shareholders. In addition,

please note that the date of this press release is mentioned at the beginning

of the release, and any forward-looking statements contained herein are based

on assumptions that we believe to be reasonable as of this date. The company

does not undertake to update any forward-looking statements that may be made

from time to time by or on behalf of the company unless it is

required by law.

    Source: Infosys