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 Group…while 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.