Latest news with #VersentGroup
Yahoo
3 days ago
- Business
- Yahoo
Infosys to purchase 75% stake in Australia's Versent for $152m
Indian tech major Infosys, has agreed to purchase a 75% stake in Australian digital transformation solutions provider Versent Group from Telstra Group for A$233m ($152.4m). The deal also includes an additional deferred payments contingent on performance and other criteria. Following the transaction, Telstra will maintain a 25% minority stake in Versent Group. The brand identity of Versent Group will remain intact, and it will operate as an independent entity. This initiative aligns with Telstra's Connected Future 30 strategy, which aims to concentrate on core connectivity and reflects a restructuring of its enterprise business. Telstra CEO Vicki Brady said: 'Our collaboration 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.' Versent Group, which encompasses Versent, Epicon, Telstra Purple Digital, and related Cloud Access products, has expertise in cloud-native solutions and digital transformation. With a workforce of 650 engineers, advisors, and strategists across Australia, Versent enhances Infosys' local footprint, primarily catering to large blue-chip clients in sectors such as government, education, finance, energy, and utilities. This partnership is expected to amplify Versent Group's cloud and digital transformation capabilities by integrating Infosys' advanced AI technologies, as well as its cloud, data, and digital consulting services. The collaboration will utilise Infosys Topaz and its cloud solution, Infosys Cobalt, alongside the cybersecurity expertise of The Missing Link to accelerate digital transformation for Australian enterprises and government entities. 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 share a valued relationship, unveils a new opportunity to further accelerate the innovation agenda for enterprises across the region.' The transaction is anticipated to close in the second half of FY 2026, pending regulatory approvals and standard closing conditions. In 2024, Infosys forged a multi-year collaboration with Telstra to expedite its software engineering and IT transformation efforts. "Infosys to purchase 75% stake in Australia's Versent for $152m" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India.com
4 days ago
- Business
- India.com
Narayana Murthy's Infosys Global Acquisition Journey Expands! IT Bellwether Buying 75% Stake In THIS Company For Rs 1,336 Crore
New Delhi: Infosys, India's second-largest IT services provider, is teaming up with Telstra, a leading Australian telecom and technology company to boost its AI capabilities. As part of this partnership, Infosys plans to acquire a 75 per cent stake in Versent Group, a subsidiary of Telstra, for 233.25 million Australian dollars (around Rs 1,336 crore), according to a recent company filing. This move marks a significant step in Infosys's global expansion and focus on advanced technology solutions. Infosys-Telstra AI Partnership This acquisition is a key part of a strategic partnership between Infosys and Telstra, aiming to create a joint venture that offers AI-powered cloud and digital solutions to Australian businesses. According to the company filing, '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.' Infosys Acquires Majority Stake in Telstra Purple Infosys has bought a 75 per cent stake in Telstra Purple Pty Ltd for 233.25 million Australian dollars (around Rs 1,336 crore), according to the company's filing. Telstra Purple includes Versent Group, Epicon, Telstra Purple Digital, and related Cloud Access products, all combined under one umbrella. (Also Read: Is Tax Law Discriminating Against Same-Sex Couples? Case Goes To High Court: Report) Versent Group: An Overview Versent Group is part of Telstra, Australia's top telecommunications and technology company. Telstra provides advanced mobile, fixed, and digital connectivity that helps people, businesses, and governments stay connected—both locally and around the world. With a focus on innovation and strong networks, Telstra is working to create a digital future that's more resilient, responsive, and inclusive for everyone. Infosys Partners with Telstra to Drive Innovation In 2024, Infosys and Telstra joined forces through a long-term strategic partnership aimed at improving customer experience and speeding up Telstra's IT and software development transformation. To further support technological innovation and strengthen Telstra's leadership in the tech world, the partnership was extended in 2025 to include Telstra International and back Telstra's 'Connected Future 30' vision.
India.com
4 days ago
- Business
- India.com
Rs 13263506360 deal! Narayana Murthy's BIG move, Infosys to acquire 75% stake in…, will boost tech giants…
Infosys will acquire a 75% stake in Versent Group, a wholly owned subsidiary of Australian telecom major Telstra, for AUD 233.25 million (around Rs 1336 crore), the IT company said in a regulatory filing. Infosys To Acquire 75% Stake In Telstra 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)
Economic Times
4 days ago
- Business
- Economic Times
ET Market Watch: Markets snap 6-week losing streak; IT & Pharma lead gains
Transcript Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:Indian markets broke a six-week losing streak on Thursday, closing slightly higher in a volatile session. Gains in IT and pharma stocks—boosted by softer U.S. inflation data and the extension of the U.S.–China tariff truce—helped offset weakness in metals and Sensex added 58 points to close at 80,598, and the Nifty rose 12 points to 24,631. Both benchmarks gained about 1% this climbed 1.5% after buying a stake in Australia's Versent Group, while Apollo Hospitals surged 10% for the week on strong earnings—its best run in nearly four markets also edged up, with mid- and small-caps gaining close to 1%.Caution lingered ahead of the August 15 U.S.–Russia summit, with concerns over possible secondary tariffs on Indian goods if talks fail. Markets will be shut Friday for Independence equities paused after hitting record highs, with investors awaiting U.S. producer price data. Brent crude rose to $66.08 a barrel, and the rupee ended weaker at 87.55 against the dollar despite an S&P credit upgrade for India.
Time of India
5 days ago
- Business
- Time of India
Infosys to buy 75% stake in Telstra's Versent for $153 million for AI-led JV
NEW DELHI: Homegrown IT services firm Infosys would acquire a 75% stake in Versent Group , a wholly-owned unit of Australian telecom group Telstra , for A$233.3 million (~$153 million), to establish an artificial intelligence (AI)-driven cloud joint venture (JV). "Infosys will acquire 75% of the shareholding in Versent Telstra will continue to retain a 25% minority stake in Versent Group, reflecting its confidence in the shared potential for growth and customer value, combining Telstra's connectivity, Versent's local digital engineering expertise, and Infosys' global scale," Infosys said in a regulatory filing Wednesday. "Accelerating Infosys' strategy to help clients navigate their AI journey, this collaboration will propel AI-enabled cloud and digital solutions for Australian businesses," it added. Versent, with over 650 engineers, provides cloud services to Australian organisations in sectors such as finance, energy, utilities, government and education, Infosys said. The IT company said the deal is expected to boost its local presence, and is expected to close by the second half of fiscal 2026, subject to approvals from the Foreign Investment Review Board of Australia and the Australian Competition and Consumer Commission. In 2024, Infosys entered into a strategic multi-year collaboration with Telstra to accelerate its software engineering and IT transformation journey and enhance customer experience. This year, the IT company collaborated with Telstra International, to advance technology leadership, drive innovation and support Telstra's new Connected Future 30 strategy.
