Dhaka, Aug. 14 -- Indian IT services company Infosys has said that it would take a 75 per cent stake in Versent Group, a wholly owned unit of Australia's Telstra Group, for A$233.3 million ($153 million).

Versent Group provides cloud services to Australian organisations in sectors such as finance, energy, utilities, government and education, Infosys said in a statement on Wednesday, reports Reuters.

The deal, which Infosys says will boost its local presence, is expected to close by the second half of fiscal 2026, subject to approvals from the Foreign Investment Review Board of Australia and the Australian Competition and Consumer Commission.

US-listed shares of Infosys rose after the news and were last up 1.6 per cent at $16.33.

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