Indian IT services company Infosys (INFY.NS) said on Wednesday it will buy an 75% stake in Versent Group, a wholly owned Telstra Group (TLS.AX) subsidiary of Australia, for A\$233.3 million (\$153 million).
Infosys said Versent Group provides cloud services to Australian customers in verticals like finance, energy, utilities, government, and education.
The transaction, which is part of efforts to enhance Infosys' presence in Australia, is slated to be completed during the second half of financial 2026, subject to approvals from Australia's Foreign Investment Review Board and the Australian Competition and Consumer Commission.
Infosys' U.S.-listed stock increased 1.6% to $16.33 after the announcement.
(Exchange rate: $1 = 1.5279 Australian dollars)
