Friday, Oct 24, 2014

Narayana Murthy plans India JV with Amazon: Report

Reuters | Bangalore | Posted: June 27, 2014 9:13 am

Infosys Ltd co-founder NR Narayana Murthy is close to entering into an e-commerce joint venture in India with Amazon.com Inc through his investment firm, Catamaran Ventures, according to a media report.

Catamaran confirmed the planned venture with Amazon Asia, the report said.

Amazon and Catamaran were not immediately available for comment.

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

Narayana 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.

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