Infosys has acquired a 75 per cent stake of the shareholding in the Australian IT company Versent Group for AUD 233.25 million, about Rs 1300 crore.
With the majority stake purchase, Infosys will have operational control, while Telstra, the parent company of Versent, will continue to retain a 25 per cent minority stake in the company.
The deal will form a joint venture between Infosys and Telstra for collaboration to propel AI-enabled cloud and digital solutions for Australian businesses.
Salil Parekh, Chief Executive Officer, Infosys, said, “We are excited to bring Infosys Topaz to enable transformative AI-first capabilities to complement Versent Group’s cloud-first digital foundation.”
Versant Group businesses
Versent Group primarily serves large blue-chip company’s with established presence in government and education, financial institutions, energy, and the utilities sector.
The company is known for designing and implementing cloud strategies with industry-leading partners for digital transformation. The company has a team of 650 engineers, advisors, and strategists in Australia.
Infosys’ Versent Group acquisition is aimed at strengthening its local presence in Australia.
Infosys has been working with he parent company Telstra since 2024 in a multi-year collaboration to accelerate its software engineering and IT transformation.