The mooted acquisition, expected to be worth as much as $400 million, was revealed by Street Talk on Thursday. The sale process is being run by Goldman Sachs.
, although she noted that there was “no certainty a transaction involving Telstra will eventuate”.
Versent provides cloud transformation and security products and services. Its crown jewel is proprietary cloud software, called Stax, which manages Amazon Web Services cloud computing environments and in 2021 appointed Paul Migliorini, former boss of AWS for Australia and New Zealand, as its chief executive.
The business, started by former National Australia Bank executives, sees a pathway to $300 million revenue within three years, thanks to market share wins and South-East Asia expansion,Versent most recently filed accounts for the 12 months to June 30, when it reported $100 million revenue and a $4.2 million loss. Its biggest expense was employee costs, and it had $57.9 million in assets at the end of the financial year.
has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.
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