RCS - Telstra Corp. Ld - Telstra to acquire Versent

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RNS Number : 7217P  Telstra Corporation Ld  11 October 2023

 11 October 2023

                   Office of the Company Secretary

                   Level 41

242 Exhibition Street
 RNS
MELBOURNE VIC 3000

AUSTRALIA

                   General Enquiries    613 8647 4838

                   companysecretary@team.telstra.com (mailto:companysecretary@team.telstra.com)

                   Investor Relations

                   Tel:  1800 880 679

                   investor.relations@team.telstra.com

ELECTRONIC LODGEMENT

 

 

Telstra to acquire Versent

In accordance with the Listing Rules, the attached market release by Telstra
Group Limited is provided for the information of Telstra Corporation Limited
noteholders.

 

Release of announcement authorised by:

 

 

Sue Laver

Company Secretary

 

 

MARKET RELEASE

 

Telstra set to acquire cloud leader Versent 11 October 2023: Telstra today
announced its intention to acquire technology consultancy Versent for $267.5
million to help scale its Telstra Purple tech services business, drive NAS
growth and support the digitisation of businesses and Australian industry.

 

Versent reported $130m net revenue in FY23, representing a strong 17 per cent
CAGR between FY20-23. 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.

 

The Melbourne-based company earned its market-leading reputation through its
award-winning AWS services capability and deep-domain expertise across cloud,
security, data, digital, and identity and access management. Versent is
currently owned by a mix of its founders, investors and employees.

 

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.

 

David Burns, Group Executive, Telstra Enterprise, said the acquisition of
Versent supports Telstra's T25 growth strategy, and commitment to support the
digital ambitions of Australia's biggest industries.

 

"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," Mr Burns said.

 

"Through the combination of our global partnerships, breadth of our networks
and technology, and strength of our deep-domain experts, we have never been
better set up to deliver secure, large-scale transformation through
technology.

 

"Versent will bring additional depth to our strong team of experts, help our
enterprise customers maximise their investment in cloud-led transformations,
and help us meet the growing demand for these specialised services."

 

This latest acquisition builds on previous acquisitions, most recently of
Alliance Automation and Aqura Technologies, which are bolstering Telstra
Purple's capabilities to support the end-to-end needs of industry verticals
and accelerate NAS growth.

 

Mr Burns said there was strong alignment between Telstra and Versent.

 

"We see strong synergies between Versent and Telstra Purple in our customer
base, our strategic partners, our team cultures and the way we tackle customer
problems with technology solutions. And like Telstra Purple, Versent also has
an international presence, particularly in south-east Asia, which provides
significant potential to grow sales of international and Australia-out digital
transformation services.

 

"We're excited by the growth potential this acquisition provides - it will
further differentiate Telstra in the market and bolster our capabilities so
that we can be the end-to-end technology partner our customers need now and in
the future," said Mr Burns.

 

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

 

Telstra media contact:

Name: Steve Carey

Mobile: +61 413 988 640

Email: media@team.telstra.com (mailto:media@team.telstra.com)

Media reference number: 038/2023

 

Telstra investor contact:

Name: Nathan Burley

Mobile: +61 457 529 334

Email: investor.relations@team.telstra.com

 

 

 

 

 

 

 

 

 

 

 

 

 

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