Infosys Partners with Temasek, Acquires 60% Stake in Trusted Source
Indian software service exporter Infosys Ltd has partnered with Singapore state investment firm Temasek Holdings for the purpose of accelerating up its Southeast Asia operations and strengthen its skills in the emerging technology space mainly in artificial intelligence. Both the companies will acquire a stake in Singapore-based Trusted Source Pte Ltd.
Infosys will be acquiring a 60% stake in the company while Temasek Holdings will take over the remaining. Trusted Source is at present a wholly owned unit of Temasek. The company offers IT services to the investment firm and other clients.
The amount of the deal is expected to be around 12 million Singapore dollars ($8.7 million). The amount will exclude adjustments for working capital, cash and net debt on closing. The deal is expecte...