Sale documents reportedly hit potential suitors vying for Versent

Sale documents reportedly hit potential suitors vying for Versent

Potential suitors have received the information memorandum from investment bank Goldman Sachs.

Melbourne-headquartered cloud consulting partner Versent is reportedly searching for suitors as sale documents hit the hands of buyout funds. 

This is according to a report in the AFR’s StreetTalk revealing that potential suitors have received the information memorandum from investment bank Goldman Sachs, which were appointed at the tail end of last year. 

Versent has been on an impressive growth trajectory since its inception. Its Stax business has been touted as a lucrative part of the deal, but that’s no surprise considering a recent multi-year, multi-million dollar collaboration agreement signed with Amazon Web Services (AWS) that will aid its global expansion goals.

According to Stax managing director Adam Beavis at the time, the deal sees Stax and AWS co-invest to build up two areas – to develop AWS-based solutions and to expand into other regions.

Stax’s aspirations to widen its footprint internationally have been in the works for some time, with it initially planning to expand into Southeast Asia by second quarter of 2022.

Last year, Versent hired Gavin Wilkie as its chief financial officer to further expand its footprint across Singapore and Asia. 

Wilkie was tasked to “ensure the organisation was equipped to enable the company to continue to grow and scale as it continues to evolve and change”, particularly helping through its “next stage of growth” following revenue increases of 50 per cent. 

‘Unprecedented’ demand for public cloud services also saw Versent jump across the ditch with plans to open offices in Auckland and Wellington, appointing Jordan Greig as a regional general manager for the country in November last year. 

“This has been largely driven by the three hyper scale providers (AWSGCP [Google Cloud Platform] and Azure) building physical zones in-region from next year,” a Versent spokesperson said at the time. 

In March, the consultancy branched out its cloud capabilities through an expanded partnership with Microsoft, joining the Microsoft Cloud Partner Program and gaining Solution Partner designations for Digital and App Innovation, Data & AI and Infrastructure. 

Versent said it was also on track to attain further Azure specialisations.

In The 2023 ISG Provider Lens AWS Ecosystem Partners report for Australia, Versent was recognised as a Leader in four quadrants – managed services, data analytics and ML, migration services and consulting services. 

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