Infosys shares jump 2% after Rs 1,300 crore deal to buy Telstra's Versent stake
IT services
company
Infosys
jumped 2% to Rs 1449.90 on Thursday after the Bengaluru-based firm agreed to acquire a 75% stake in
Versent Group
, a wholly owned unit of Australia's
Telstra
Group, in a deal valued at AUD 233.25 million (over Rs 1,300 crore).
Infosys said on Wednesday that the acquisition, comprising upfront and deferred consideration but excluding management incentives and retention bonuses, would expand its local presence in Australia's cloud and AI services market. The transaction is expected to close in the second half of fiscal 2026, subject to clearance from Australia's
Foreign Investment Review
Board and the Australian Competition and Consumer Commission.
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Melbourne-headquartered Versent Group delivers
cloud services
to organisations in sectors such as finance, energy, utilities, government and education. It employs 650 engineers, strategists, and advisors, and in FY25 reported revenues of AUD 211.4 million (over Rs 1,800 crore), serving blue-chip clients across Australia and New Zealand.
Telstra will retain the remaining 25% stake, while
Infosys
will have operational control of the
joint venture
. The partnership will combine Telstra's connectivity, Versent's local digital engineering expertise, and Infosys' global scale in AI and cloud. The offering will be underpinned by Infosys' AI platform Topaz, its cloud services suite Cobalt, and cybersecurity capabilities from The Missing Link.
Executives hail collaboration
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'This collaboration reflects our confidence in the value we can unlock together,' Telstra CEO Vicki Brady said. Infosys CEO Salil Parekh described the deal as a 'new opportunity to further accelerate the innovation agenda' for the region, while Infosys executive vice-president Anand Swaminathan said the JV would deliver 'secure, resilient' cloud and
AI solutions
for Australia and New Zealand.
U.S.-listed shares of Infosys rose after the announcement and were last up 1.6% at $16.33.
Also read |
Infosys to buy 75% stake in Telstra unit for $153 million
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Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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