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Infosys co-founder Murthy plans India JV with Amazon: paper
June 26, 2014 / 5:40 PM / 3 years ago

Infosys co-founder Murthy plans India JV with Amazon: paper

(Reuters) - Infosys Ltd (INFY.NS) co-founder N.R. Narayana Murthy is close to entering into an e-commerce joint venture in India with Amazon.com Inc (AMZN.O) through his investment firm, Catamaran Ventures, India’s Economic Times reported.

N. R. Narayana Murthy, founder and chairman of Infosys, listens to a question during an interview with Reuters at the company's office in Bangalore February 28, 2012. REUTERS/Vivek Prakash

Catamaran confirmed the planned venture with Amazon Asia, the business daily reported on Thursday. (bit.ly/1lhInmm)

Amazon and Catamaran were not immediately available for comment.

Catamaran will hold a 51 percent stake in the business, as required under India’s foreign direct investment rules, the newspaper reported, citing sources.

Murthy built up Infosys into one of India’s top outsourcing service companies. He stepped down as executive chairman of the company earlier this month.

Reporting by Abhirup Roy in Bangalore; Editing by Ted Kerr

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