Infosys said that its wholly owned subsidiary Infosys Consulting is acquiring 100% of the share capital of Singapore Telecommunications' (Singtel's) delivery center in Malaysia - Global Enterprise International Malaysia (GEIM).
GEIM had recorded revenue of Malaysian Ringgit (MYR) 67.4 million in FY Mar'21.
The acquisition is being done to bolster Infosys' presence in Malaysia, a strategic delivery and sales hub in South East Asia for global clients.
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.
The IT major expects to complete the acquisition this month itself. The company will pay up to 6 million Singapore Dollar for the acquiring the said shares, including the value of net assets, subject to customary closing adjustments.
Infosys is a global leader in next-generation digital services and consulting. On a consolidated basis, Infosys' net profit rose 4.4% to Rs 5,421 crore on 6.1% increase in revenues to Rs 29,602 crore in Q2 FY22 over Q1 FY22.
Shares of Infosys were trading 1.32% lower at Rs 1729.10 on BSE.
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