Infosys Consulting Pte. Ltd., a wholly-owned subsidiary of IT services giant Infosys, announced on Wednesday that it has acquired Singaporean telecom major Singtel's delivery centre in Malaysia - Global Enterprise International Malaysia.
Infosys Consulting has made the acquisition with an aim to broaden its presence as a strategic delivery and sales hub in South East Asia for international clients.
The company said in a regulatory filing that it is acquiring 100% share capital in Global Enterprise International Malaysia for a cash consideration of 6 million Singapore Dollars (around $4.4 million or Rs 33.32 crore). The deal is likely to be concluded by December 2021.
"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," Infosys said in a statement.
The company further stated that the deal will not require "any governmental or regulatory approvals required for the acquisition" and would not come under the definition of a related party transaction.
The development comes at a time when Indian IT services firms are aiming to expand their consulting practice to compete with their global peers.
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Incorporated in 2013, Global Enterprise International Malaysia 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. The company reported revenues of MYR 67.4 million (approx. $16 million) for FY21.
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