Infosys to buy 75% stake in Telstra unit for $153 million

IT services firm Infosys has acquired a 75% stake in Versent Group, a wholly owned subsidiary of Telstra Group, to form a joint venture aimed at accelerating AI-led cloud and digital transformation for Australian enterprises.

Telstra will retain the remaining 25% stake, while Infosys will have operational control of the Melbourne-headquartered firm. The deal is valued at AUD 233.25 million (over Rs 1,300 crore), including upfront and deferred consideration, excluding management incentives, and retention bonuses.

The JV will combine Telstra’s connectivity, Versent’s local digital engineering expertise, and Infosys’ global scale in AI and cloud. It will leverage Infosys’ AI platform Topaz, cloud services suite Cobalt, and cybersecurity capabilities from The Missing Link to deliver end-to-end transformation for large enterprises and government agencies across Australia.

Versent Group, formed from the integration of Versent, Epicon, Telstra Purple Digital, and associated cloud products, employs 650 engineers, strategists, and advisors. The company, which primarily serves large blue-chip organisations with established presence in government and education, financial institutions, energy, and the utilities sector, reported revenues of AUD 211.4 million (over Rs 1,800 crore) in FY25. 

Last year, Infosys announced a strategic multi-year collaboration with Telstra to accelerate its software engineering and IT transformation journey and enhance customer experience. This year, Infosys announced a collaboration with Telstra International to advance technology leadership, drive innovation and support Telstra’s new Connected Future 30 strategy.

“This collaboration reflects our confidence in the value we can unlock together,” Telstra CEO Vicki Brady was quoted as saying in the release. Infosys CEO Salil Parekh called the move a “new opportunity to further accelerate the innovation agenda” for the region, while Infosys EVP Anand Swaminathan said the JV would deliver “secure, resilient” cloud and AI solutions for Australia and New Zealand.

The transaction, subject to approvals from Australia’s Foreign Investment Review Board and the Australian Competition and Consumer Commission, is expected to close in the second half of FY26.