Infosys strikes IT deal in Saudi

Business technology consulting and outsourcing firm Infosys has entered into a joint venture deal with Saudi Arabia-based Saudi Prerogative Company. The deal calls for Infosys to conduct IT services for customers in the Kingdom. Infosys is investing SAR1.2m (USD319,000) in a 70% stake in the venture with Saudi Prerogative Company to enter local IT service sector. The deal is subject to approval from the Saudi Arabian General Investment Authority (SAGIA). The decision of Infosys to enter the Saudi Arabian market comes as rival outsourcing firms, such as Wipro and Tata Consultancy Services, have already entered the Kingdom. Headquartered in India, Infosys operates a number of call centers in the Philippines.