Infosys Ltd. on Dec. 14 announced a joint venture with Hitachi Ltd., Panasonic Corp. and Pasona Inc. to boost its digital procurement capability in Japan.
As part of the agreement, the Indian digital services and consulting company will acquire an 81% stake in Hitachi Procurement Service Co. Ltd., a Hitachi subsidiary, while Panasonic and Pasona will own 2% each. Hitachi will keep the remaining shares. The transfer of shares is scheduled for April 1, 2019.
The new company will be called HIPUS Ltd.
Financial terms of the transaction were not disclosed.