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.

Versent Group provides cloud and digital transformation services to the finance, energy, utilities, government, and education sectors.

As part of the transaction, Telstra will retain a 25 percent minority stake in Versent, while Infosys will have operational control of the unit.

Indian IT services company Infosys said that the JV will bolster Versent's existing cloud and digital transformation services, and strengthen its push on advanced AI capabilities, cloud, data, and digital consulting services.

Versent has a team of 650 engineers, advisors, and strategists across Australia.

According to Infosys, the JV will leverage Infosys Topaz and cloud offering Infosys Cobalt, plus the cybersecurity capabilities of The Missing Link.

It builds on a strategic partnership that was signed last year between Infosys and Telstra and on a collaboration earlier this year between the two companies as part of Telstra's Connected Future 30 strategy, which is heavily focused on AI.

Telstra's CEO, Vicki Brady, previously noted in May that the company was keen to "embrace AI." In January, the carrier announced a JV with Accenture to speed up the company's data and AI roadmap. The JV aims to support Telstra's modernization of its AI and data platforms.

"Our collaboration with Infosys reflects our confidence in the value we can unlock together. Their global scale, deep industry knowledge, and culture of innovation and service excellence will be instrumental in accelerating Versent Group's growth and impact across the region," said Brady this week.

Salil Parekh, chief executive officer, Infosys, added: "Expanding our trusted collaboration with Telstra, with whom we share a valued relationship, unveils a new opportunity to further accelerate the innovation agenda for enterprises across the region."

Infosys said it expects to complete the deal during the second half of FY 2026.