Telstra’s acquisition of Versent will help it scale its Telstra Purple tech services business and will enable the acceleration of Versent’s considerable growth opportunities in Australia and internationally
Versent specialise in both Modern Build and Modern Run for cloud-native applications, data-streams, platforms and services to government and enterprise clients across Australia, the Asia Pacific and the United States.
Paul Migliorini, CEO of Versent, said, “Versent was founded on a belief that the way technology services were delivered needed to fundamentally change.
“One principle has governed all our activity, that success for Versent is solely a function of our customers’ success. We’ve used this principle to underpin our focus on investing in engineering depth, craft, innovation and a culture that enables the best engineering talent to thrive,”.
“At Versent this mindset is called ‘done done’. We’re pleased to have identified a partner that appreciates and shares our ‘done done’ culture,”
“Versent is known in the market for providing deep, trusted technical expertise with commitment to customer outcomes through long-term partnership and alongside Telstra Purple we can achieve greater scale with a consistent growth pipeline, particularly expanding our international presence,” Migliorini said.
Telstra’s acquisition follows a period of sustained growth for Versent. Founded in 2014 by Thor Essman, Eddie Smith and James Coxon,
Versent currently has more than 500 employees across offices in Australia, Singapore and the United States and has delivered more than 1,300 projects, migrated or transformed over 1,000 cloud workloads, and manages more than 350 million secure identities.
The transaction is expected to be completed within the next six weeks, subject to customary closing conditions.
In the fiscal year of 2023, Versent proudly reported a remarkable net revenue of $130 million, a testament to their unwavering commitment to excellence and innovation.
