Infosys and Temasek Extend Digital Services Joint Venture for Five Years
The extension demonstrates shared objective of creating impactful digital transformation and investing in digital talent in Singapore
BENGALURU, India and SINGAPORE, Oct. 12, 2023 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a five-year extension of its successful joint venture collaboration with Temasek, a global investment firm headquartered in Singapore. Infosys Compaz ("iCompaz"), the Infosys-Temasek joint venture (JV) company, has collaborated with large corporations in Southeast Asia on their digital transformation journeys, leveraging its deep technology expertise across cloud, data and analytics, cybersecurity, digital, artificial intelligence (AI) and automation, among others.
This extension underscores iCompaz's commitment to growing its presence in Singapore and the broader Southeast Asian market. The region is one of the fastest-growing economies in the world and is a key market for growth. iCompaz, which was formed in 2018, has collaborated with Temasek on its technology transformation initiatives such as deploying new digital architecture, data applications and security infrastructure. This announcement further deepens the commitment that Infosys had made in 2018, to invest in advanced technologies and capability-building, with the aim of delivering high-quality professional services and supporting the growth and development of its workforce.
iCompaz is powered by Infosys' deep capabilities in business innovation through Infosys Cobalt, a set of services, solutions and platforms for enterprises to accelerate their cloud journey. Leveraging Infosys Topaz, an AI-first set of services, solutions and platforms using generative AI technologies, iCompaz will enable clients to create value from unprecedented innovations, pervasive efficiencies, and connected ecosystems.
Dennis Gada, EVP, Head of Financial Services, Infosys, said, "We deeply value our collaboration with Temasek, and it has helped us scale both technology capabilities and talent base in the region. Our journey over the last 5 years has demonstrated shared aspirations of amplifying human potential. We look forward to further building on the strong foundation we have laid together to provide differentiated value to all stakeholders across the region."
Rao Baskara, Chief Technology Officer, Temasek, said, "We look forward to extending our collaboration and the next phase of growth of iCompaz as it continues to provide quality digital services to companies in Southeast Asia. This engagement also enhances Temasek's capabilities, and enables us to harness the potential that digital transformation brings."
Manohar Atreya, CEO, Infosys Compaz, said, "iCompaz has proven its expertise in the sphere of large-scale digital and IT transformation. We are delighted to extend this collaboration with Temasek, as we continue to leverage the global scale and depth of Infosys in intelligent AI platforms and data solutions, to help clients navigate their next journey in business transformation."
About Temasek
Temasek is a global investment company with a net portfolio value of S$382 billion as at 31 March 2023. Our Purpose "So Every Generation Prospers" guides us to make a difference for today's and future generations. As an active investor, forward looking institution and trusted steward, we are committed to deliver sustainable value over the long term. Temasek has overall corporate credit ratings of Aaa/AAA by rating agencies Moody's Investors Service and S&P Global Ratings respectively. Headquartered in Singapore, we have 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, or our future financial or operating performance are forward-looking statements 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 or outcomes 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 the execution of our business strategy, our ability to attract and retain personnel, our transition to hybrid work model, economic uncertainties, technological innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, and our corporate actions including acquisitions. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2023. These filings are available at 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 Securities and Exchange Commission and our reports to shareholders. 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.
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