Telstra, the Australian telecommunications company, has announced its intention to acquire technology consultancy firm Versent for a total of AUD 267.5 million (USD 172.0 million). This acquisition is part of Telstra’s strategy to further expand its service offerings to companies in need of digital transformation.
Versent, with its headquarters in Melbourne, reported a net revenue of AUD 130 million in the fiscal year 2023, marking a compound annual growth rate of 17% over the previous three years. With a team of over 500 experts, Versent currently caters to more than 40% of Australia’s largest listed companies.
Telstra aims to leverage this deal to bolster the capabilities of its Telstra Purple technology business. The company has witnessed a surge in demand for technology solutions, particularly in areas such as cyber security and cloud-led transformation. As enterprises, governments, and various industries continue to digitize their operations, Telstra recognizes the need to provide advanced technological services to meet these evolving requirements.
David Burns, Group Executive at Telstra Enterprise, expressed enthusiasm about the acquisition: “Since the launch of our Telstra Purple technology services business four years ago, we have observed a growing demand for innovative technology solutions. This acquisition will enhance our ability to meet the evolving needs of enterprises and government entities as they embrace digital transformation.”
Telstra’s acquisition of Versent represents an important step towards strengthening its position as a leading provider of comprehensive digital solutions in the Australian market.
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