Telstra's just sealed a $267 million deal to acquire cloud-computing specialist Versent.
👉 Background: Telstra is Australia's biggest telco with over 31,000 employees and 8.7 million customers. Originally government-owned, Telstra began its privatisation process in 1997.
👉 What happened: Now, Telstra's just sealed a $267 million deal to acquire cloud-computing specialist Versent. Telstra is keen to get deeper into the "cloud transformation" space- that's when a company moves their business, data and software onto the cloud.
👉 What else: Telstra is hoping this new deal will help them become a bigger player in the cloud computing market, and give them access to Versent's highly experienced workforce.
💡In acquisitions, the fate of the acquired-employees can be very different depending on the type of acquisition.
💡Acquisitions of businesses that are similar to the buyer usually lead to layoffs because their operations overlap. But when the businesses don't overlap, the unique strengths and expertise of the acquired company are relied upon more.
💡This acquisition gives Telstra access to Versent's workforce with knowledge and expertise in cloud, security, and data.
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