Homegrown IT firm Infosys has formed a joint venture (JV) with three Japanese firms focused towards providing digital procurement platforms for the Japanese market.
Infosys owns an 81 per cent stake in the JV — HIPUS Co Ltd — with Hitachi, Panasonic and Pasona Inc. claiming the rest.
Monday’s announcement follows a decision made by Infosys in December to pick up 81 per cent in Hitachi Procurement Service Co, Hitachi’s fully owned subsidiary, for a consideration of 2,762 million yen (approximately Rs 174.58 crore). This firm has now morphed into HIPUS, and will offer Japanese firms “business process transformation using digital procurement platforms”.