Infosys sets up JV for Saudi Arabian market

Posted on:06 Sep 2016 09:21:17

Infosys sets up JV for Saudi Arabian market
06 September 2016 Current Affairs GK: Infosys has entered into a joint venture with the Saudi Prerogative Company to offer IT services in the middle eastern country .

The Bengaluru-based IT services firm will own 70 per cent of the JV. The investment in the JV will be a little over $300,000 in the equity share capital of the proposed joint venture company, Infosys said in a filing with the Bombay Stock Exchange. 

Infosys Limited is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. It is headquartered in Bangalore, Karnataka.

Infosys is the second-largest Indian IT services company by 2016 revenues,and the fifth largest employer of H-1B visa professionals in the United States in FY 2013.

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