IT services company Infosys said it acquired a 75 percent stake in Telstra’s Versent Group for $153 million to boost AI customer adoption and cloud services.

Infosys said the collaboration will combine its AI and cloud capabilities with Telstra’s network reach and Versent’s local expertise.

IT services company Infosys said it acquired a 75 percent stake in Telstra’s Versent Group for $153 million to boost AI customer adoption and cloud services.

Infosys has announced it will acquire a 75 percent stake in Australian telco Telstra subsidiary Versent Group for AU$233.3 million ($153m). In doing so, Infosys and Telstra will form a joint venture that aims to speed up the AI-powered cloud and digital transformation for Australian enterprises.

Indian IT services company Infosys said on Wednesday that it would take a 75% stake in Versent Group, a wholly owned unit of Australia's Telstra Group , for A$233.3 million ($153 million).

Indian tech major Infosys, has agreed to purchase a 75% stake in Australian digital transformation solutions provider Versent Group from Telstra Group for A$233m ($152.4m). The deal also includes an additional deferred payments contingent on performance and other criteria.

Telstra has sold a 75 per cent stake in Versent Group to Infosys, valued at $233 million. The move is part of Telstra’s Connected Future 30 strategy to focus on core connectivity and is consistent with the reset of its enterprise business.

In its third acquisition in six months, Infosys is buying 75% of Versent in a JV with Telstra, signalling an acquisition-led growth push amid muted client spending and big-deal scarcity.

Infosys has announced the formation of a joint venture with Telstra, an Australian telecommunications and technology company.

Infosys will have operational control, while Telstra will continue to retain a 25 per cent minority stake in Versent Group

Infosys would acquire 75% of the shareholding in Versent Group, a wholly-owned subsidiary of Telstra Group, that delivers cloud and digital transformation.