IT major Infosys on Wednesday said its subsidiary, Infosys Consulting, is acquiring Singtel's delivery centre in Malaysia.
The cost of the transaction is "up to 6 million Singapore dollars, including the value of net assets, subject to customary closing adjustments", Infosys said in a regulatory filing.
"As part of a strategic partnership, Infosys is acquiring 100 per cent of the share capital of Singapore Telecommunications Limited's (Singtel) delivery centre in Malaysia - Global Enterprise International Malaysia Sdn Bhd to bolster Infosys' presence in Malaysia, a strategic delivery and sales hub in South East Asia for global clients," it said.
This move also aligns with Infosys' long-term strategy for communications, media, and technology (CMT) vertical including platform-led transformation of customer and service experience for clients, it added.
Incorporated in 2013, Global Enterprise International Malaysia Sdn Bhd (GEIM) is a step-down subsidiary of Singtel and is based in Kuala Lumpur, Malaysia. It acts as a delivery centre to provide customer experience and technology services to Singtel. Its revenue stood at 67.4 million Malaysian Ringgit in the fiscal ended March 2021.