04:27 AM EST, 01/16/2025 (MT Newswires) -- Accenture ( ACN ) said Wednesday that it has proposed a seven-year joint venture with Telstra to rapidly accelerate the latter's data and AI roadmap.

The proposed JV would be 60% owned by Accenture ( ACN ) and 40% by Telstra.

A key focus of the JV will be to reinvent business processes through new capabilities like agentic AI and enable teams to work with intelligent AI ecosystems to optimize key tasks, the company said.

As part of these changes, Telstra will consolidate vendor support from 18 data and AI providers and partners down to two JVs - Quantium Telstra and the proposed JV with Accenture ( ACN ).

Telstra's core Data & AI workforce, based in Australia and India, will receive an offer to join the JV. At the end of the seven-year term, JV employees will be offered a role at Telstra.