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Telstra Plans To Acquire Technology Consultancy Versent For A$267.5 Mln

October 10, 2023 — 09:52 pm EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Telstra said that it plans to acquire technology consultancy Versent for A$267.5 million.

The acquisition also includes Stax, a subsidiary of Versent that provides a self-serve cloud management platform for enterprise and mid-market customers which enables them to design, build and run their own cloud.

Completion is expected to occur within the next six weeks and is subject to various conditions being met, including certain securityholder processes.

Versent reported A$130 million net revenue in fiscal year 2023, representing a strong 17 percent CAGR between fiscal year 2020-2023. Its team of more than 500 experts work with over 40 per cent of the ASX 100 to transform their businesses through cloud technology, offering both professional and managed services, and key partnerships with AWS, Microsoft and leading security and data vendors.

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