Infosys drops $233M for majority stake in Telstra’s Versent Group
‘We are excited to bring Infosys Topaz to enable transformative AI-first capabilities to complement Versent Group’s cloud-first digital foundation,’ says Infosys CEO Salil Parekh.
Athina Mallis also contributed to this article.
Global services and consultant giant Infosys is acquiring a 75 percent stake in Versent Group, a cloud services unit owned by Telstra, for $233 million.
The US$19 billion India-based services superstar says buying a majority stake in Versent Group will accelerate enterprise customers AI journey throughout Australia.
This deal is a part of Telstra’s Connected Future 30 strategy, where it said it wants to focus on core connectivity and be consistent with the reset of its Enterprise business.
Vicki Brady, CEO at Telstra said, “Versent Group has earned its reputation by helping Australian enterprises make the shift from traditional technology to modern cloud environments – delivering digital transformation at scale.
“Our partnership with Infosys reflects our confidence in the value we can unlock together. Their global scale, deep industry knowledge, and culture of innovation and service excellence will be instrumental in accelerating Versent Group’s growth and impact across the region.”
She explained how customers will be impacted by the Infosys deal.
“For customers, it means they can continue to benefit from Telstra’s leading connectivity and the local agility and specialised engineering of Versent Group, now enhanced by the global capabilities and market insights of Infosys,” Brady said.
Telstra said customers will also benefit from the strategic partner relationship between the telco and Infosys, which will see both organisations refer and leverage each other’s offerings.
“We are excited to bring Infosys Topaz to enable transformative AI-first capabilities to complement Versent Group’s cloud-first digital foundation,” said Infosys CEO Salil Parekh in a statement.
To drive greater AI adoption, Infosys plans to leverage its Topaz AI services, Cobalt cloud offering, and newly acquired cybersecurity capabilities from The Missing Link together with Versent’s services capabilities.
Infosys stock was up nearly 2 percent Wednesday, trading at around US$16.34 per share.
The announcement also coincides with the telco’s FY25 results published Thursday morning.
The telco posted an underlying EBITDA of $8.6 billion, a net profit of $2.3 billion.
Commenting on the results, Brady said, “Our reported growth this year is stronger than underlying growth because of significant one-off net costs totalling $715 million in the prior year, mostly related to impairments and restructuring associated with the reset of our Telstra Enterprise business.”
Infosys-Telstra Deal Details
The deal is expected to close during the second half of 2026.
Infosys will have operational control over Versent Group, while Telstra will continue to retain a 25 percent minority stake.
With a team of 650 engineers, advisors, strategists spread across Australia, Versent Group strengthens Infosys’ local presence in Australia. Versent Group primarily serves large enterprise organizations with a big presence in government and education, financial institutions, energy, and the utilities sector.
Infosys has over 320,000 employees globally with clients in 59 countries.
Infosys’ Recent Acquisitions
In April, Infosys unveiled its plan to buy a pair of companies to boost its services capabilities.
Infosys acquired The Missing Link, a Sydney-based provider of cybersecurity services.
The company also acquired MRE Consulting, a Houston-based technology and business consulting service provider.
For fiscal year 2025, Infosys said it generated total revenue of $19.3 billion, up 4 percent compared to fiscal 2024.
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