Rs 13263506360 deal! Narayana Murthy's BIG move, Infosys to acquire 75% stake in…, will boost tech giants…
The deal is part of a strategic partnership between Infosys and Telstra to establish a joint venture for delivering AI-powered cloud and digital solutions to businesses across Australia.
'Infosys will acquire 75 per cent of the shareholding in Versent Group, Australia's leading Digital Transformation Solutions Provider, and a wholly-owned subsidiary of Telstra Group, that delivers cloud and digital transformation,' the filing said.
The company has acquired a 75 per cent stake for 233.25 million Australian dollars, about Rs 1,336 crore, through a transaction in Telstra Purple Pty, the filing said. What Is Versent Group?
According to the filing, Versent Group is Telstra Purple Pty Ltd and is the integration of Versent, Epicon, Telstra Purple Digital and associated Cloud Access products.
Infosys will have operational control, while Telstra will continue to retain a 25 per cent minority stake in Versent Group.
'This strategic collaboration will see Versent Group's cloud and digital transformation expertise boosted by Infosys' advanced AI capabilities, Cloud, Data and Digital consulting services. The collaboration will leverage Infosys Topaz and cloud offering Infosys Cobalt, as well as the cybersecurity capabilities of The Missing Link,' the filing said.
With a team of 650 engineers, advisors, strategists spread across Australia, Versent Group strengthens Infosys' local presence.
Versent Group primarily serves large blue-chip organizations with established presence in government and education, financial institutions, energy, and the utilities sector.
(With Inputs From PTI)
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