On Wednesday, Infosys Consulting Pte. Ltd., a wholly-owned subsidiary of IT services behemoth Infosys, announced that it had acquired Singtel's Malaysian delivery center, Global Enterprise International Malaysia.
The acquisition was made with the goal of expanding Infosys Consulting's presence as a strategic delivery and sales hub for international clients in Southeast Asia.
The company confirmed that it is acquiring 100% of Global Enterprise International Malaysia's share
capital for a cash consideration of 6 million Singapore Dollars (roughly $4.4 million or Rs 33.32 crore) in a regulatory filing. The agreement is due to be finished by December 2021.
In a statement, Infosys said, "This move also aligns with Infosys' long-term strategy for the communications, media, and technology (CMT)
vertical, which includes platform-led transformation of customer and service experience for clients.
According to the company, the deal will not require "any governmental or regulatory approvals required for the acquisition," and will not fall under the definition of a related party transaction.
This development comes when Indian IT service firms are looking to expand their consulting practice to compete with their global counterparts.
Global Enterprise International Malaysia, founded in 2013, is a step-down subsidiary of Singtel based in Kuala Lumpur, Malaysia.
It serves as a delivery center for Singtel's customer experience and technology services. For FY21, the company reported MYR 67.4 million (approximately $16 million) revenues.
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