Telstra Plans to Acquire Technology Consultancy Versent for A$267.5 Million

By David Winning

SYDNEY--Telstra said on Wednesday that it intends to acquire technology consultancy Versent for 267.5 million Australian dollars (US$172.0 million), targeting more growth from providing services to companies striving to become more digital.

Telstra said Versent reported net revenue of A$130 million in the 2023 fiscal year, representing a 17% compound annual growth rate in the three years through that date. Melbourne-based Versent has more than 500 experts working with more than 40% of Australia's 100 largest-listed companies.

Telstra said the deal will help to scale its Telstra Purple technology business.

"Since launching our Telstra Purple technology services business four years ago, we've seen growing demand for technology solutions--particularly in cyber security and cloud-led transformation--as enterprises, governments and whole industries continue to digitise their operations," said David Burns, Group Executive, Telstra Enterprise.

Write to David Winning at david.winning@wsj.com

(END) Dow Jones Newswires

October 10, 2023 18:09 ET (22:09 GMT)

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