Indian IT services company Infosys will take a 75 percent stake in Versent Group, a wholly owned unit of Telstra, for $233.3 million.
Versent Group provides cloud services to Australian organisations in sectors such as finance, energy, utilities, government and education.
Telstra bought Versent in October 2023 for $267.5 million.
The telco will retain a 25 percent minority stake in Versent under the deal.
The deal, which Infosys says will boost its local presence, is expected to close by the second half of fiscal 2026, subject to approvals from Foreign Investment Review Board of Australia and Australian Competition and Consumer Commission.
Telstra CEO Vicki Brady said the “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,” she said.
Telstra is set to hand down its full-year results later today.
Additional reporting by iTnews.
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