Infosys acquires 75% in Telstra’s Versent Group for over Rs 1,300 cr to set up AI-led cloud JV

Infosys

Information technology (IT) major Infosys has acquired a 75 percent 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 percent 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. In FY25, it reported revenues of AUD 211.4 million (over Rs 1,800 crore), serving blue-chip clients in sectors such as government and education, financial services, energy, and utilities.

“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.