Infosys, India's second-largest IT firm, announced that it will buy a 75% stake in Versent Group, a leading digital transformation solution provider and wholly owned subsidiary of Australia's Telstra Group, for $153 million, or approximately Rs 1,300 crore. The agreement establishes a joint venture between Infosys and Telstra to accelerate AI-enabled cloud and digital solutions for Australian businesses.
Key Highlights
- Infosys acquires 75% of Versent Group for over Rs 1,300 crore to form AI-led cloud JV.
- Infosys gains operational control while Telstra retains 25% stake; JV expands its Australian cloud presence.
While Infosys will retain operational control, Telstra will retain a 25% minority stake in Versent Group, reflecting Telstra's belief in the shared potential for growth and customer value, combining Telstra's connectivity, Versent's local digital engineering expertise, and Infosys' global scale, according to a statement.
The transaction is expected to close in the second half of Fiscal Year 2026, subject to regulatory approvals and customary closing conditions.
Infosys CEO Salil Parekh said, "We are excited to bring Infosys Topaz™ to enable transformative AI-first capabilities to complement Versent Group's cloud-first digital foundation. Expanding our trusted collaboration with Telstra, with whom we have a valued relationship, opens up a new opportunity to further accelerate the innovation agenda for enterprises across the region."
Versent Group, formed by the merger of Versent, Epicon, Telstra Purple Digital, and related cloud products, employs 650 engineers, strategists, and advisors. In FY25, it reported revenues of AUD 211.4 million (more than Rs 1,800 crore), serving blue-chip clients in sectors including government and education, financial services, energy, and utilities.
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Infosys announced a strategic multi-year collaboration with Telstra in 2024 to accelerate its software engineering and IT transformation journeys while also improving the customer experience. Furthermore, in 2025, Infosys announced a partnership with Telstra International to advance technology leadership, drive innovation, and support Telstra's new Connected Future 30 strategy.
Telstra Enterprise Group Executive Oliver Camplin-Warner stated, "By combining the strengths of our three businesses, we're creating a unique proposition that will help Australian enterprises grow and innovate in today's fast-moving, AI-driven digital landscape."
Anand Swaminathan, Executive Vice President - Global Head of Communications, Media, and Technology at Infosys, stated, "This collaboration reflects our shared commitment to accelerating AI-led innovation and enabling a more connected, intelligent, and digital future for the region."
