Infosys-Temasek extend JV collaboration by five years for growth in Southeast Asian market

Information technology (IT) services Infosys today announced a five-year extension of its joint venture (JV) collaboration with the Singapore-based investment firm Temasek. To be sure, in 2018, the two firms announced the launch of their JV called iCompaz, headquartered in Singapore. In the last five years, the JV has worked with several corporations in Southeast Asia on their digital transformation journey by leveraging technologies like artificial intelligence, automation, cloud, and analytics. 

“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,” said Dennis Gada, EVP, head of financial services, Infosys.

iCompaz is built on Infosys Cobalt’s services and solutions. It also leverages Infosys’ AI-first set of services and solutions based on generative AI, announced this May. It has collaborated with Temasek on its technology transformation initiatives such as deploying new digital architecture, data applications and security infrastructure.

On Thursday, Infosys announced its second-quarter results for FY24. The second largest IT services firm in the country has reported a consolidated revenue of ₹38,994 crore up 7%. The company delivered $4,718 million in Q2 revenues with year-on-year growth of 2.5% and sequential growth of 2.3% in constant currency. The operating margin for the quarter increased sequentially to 21.2%, the company said in a statement. “Strong H1 performance with significant large deal wins, builds a solid foundation for the future. The growing adoption of our Generative AI offering, Topaz, is helping us deliver consistent value and expand market share,” said Salil Parekh, Infosys’ chief executive officer.