IT consulting firm Infosys have entered into a joint venture with Singapore’s Temasek Holdings to expand their cloud footprint in Southeast Asia. As per the terms of the JV, Infosys will hold a total of 60% equity with an investment of USD 8.71 million to provide cloud-based data, analytics and cybersecurity solutions to customers.
Infosys claim that Southeast Asia and Singapore in specific is a booming market for cloud-based products and services. They say that this market has picked up immensely in the last four to five years as a result of proximity to cloud giants like Alibaba and Tencent, increased awareness about cloud products and rapid rate of adoption on the part of small and large enterprises.
According to the IT consulting firm, Temasek’s SBU Trusted Source is a firm that provides cloud-based data analytics and cybersecurity solutions to small and large enterprises in Singapore and the rest of Southeast Asia. By inking a JV deal with them, Infosys say they will not only be expanding their footprint in the region, but also understand the needs of the market when it comes to cloud products.
With this deal, Infosys claim that they will integrate their team with the operations of Temasek’s Trusted Source. Speaking about this, Mohit Joshi, President at Infosys, commented:
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.
Infosys revealed that the deal is set to close by the end of March next year. Industry experts opine that Singapore will see more such deals in the near future given the innovation that is happening in the region. Southeast Asia has not only caught the fancy of IT companies like Infosys but also companies like Google, who have very recently expanded their data center reach to Singapore.