Telecommunications giant Telstra has formed a strategic partnership with technology consulting business Infosys through the sale of 75% of digital transformation company Versent Group for A$233 million (US$152 million).
The company said the partnership was part of Telstra’s Connected Future 30 strategy to focus on core connectivity and consistent with the reset of its Enterprise business.
The sale to Infosys, which consists of an $175 million up-front payment and deferred payments subject to performance and other conditions, is expected to be completed before the end of March 2026.
It is not expected to result in a material gain or loss for Telstra, based on the carrying value of the Versent Group, which had revenue in the 2025 financial year of $397 million, subject to final adjustments.
CEO Vicki Brady said the partnership reflected Telstra’s confidence in the value the two companies could 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,” Brady said in a ASX announcement.
Versent Group, which is the integration of Versent, Epicon, Telstra Purple Digital2 and associated Cloud Access products, will retain its brand and remain a stand-alone business.
“We are excited to bring Infosys’ capabilities to enable transformative AI-first solutions to complement Versent Group’s cloud-first digital foundation,” Infosys Chief Executive Officer Salil Parekh said.
“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.”
Shares in Telstra, which earlier announced its full-year results, were trading 14 cents (2.71%) lower at $4.84 at the time of writing, capitalising the company at $55.05 billion.
