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Infosys sets up JV in Saudi Arabia to tap local IT business

Firm lags behind Wipro and TCS in engaging with Saudi Kingdom, which is investing in infra and education to adapt to the knowledge economy

Employees at the Infosys campus in Bengaluru
Employees at the Infosys campus in Bengaluru

InfosysLtdhasbecomethelatestIndianITservicescompanytosetupajointventurewithalocalcompanyinSaudiArabiatotaplocalcustomersintheIslamicKingdom,whichisusingtechnologytotransformitselffrombeingaoildependentcompany. Infosysisinvesting$321,671orRs2.12crorefora70percentstakeintheJVwithSaudiPrerogativeCompany(SPC)totaplocalITservicebusiness,thecompanysaidinaBSEfiling. ThedealissubjecttoapprovalfromtheSaudiArabianGeneralInvestmentAuthority. InfosyslagsbehindlocalrivalssuchasWiproandTata ...