Canadian telecommunications company Telus has signed a definitive agreement to acquire the remaining shares of its digital services unit for $4.50 per share, amounting to an aggregate consideration of $539m.
The agreement was signed nearly three months after the telecom company submitted a non-binding indication of interest to assume full ownership of Telus Digital.
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The deal, which carries a total transaction value of nearly $2.9bn, is aimed at facilitating closer integration of Telus’ AI and software capabilities. Telus Digital provides a range of services, including customer experience management, digital solutions, AI-fuelled automation, and security services.
Telus president and CEO Darren Entwistle said: “Telus Digital’s world-leading capabilities in digital customer experience solutions and AI innovations are highly complementary to our strategy at Telus.
“The transaction is fully reflective of our belief that closer operational proximity between Telus and Telus Digital will enable enhanced AI capabilities and SaaS transformation across all lines of our business, including telecommunications, Telus Health and Telus Agriculture & Consumer Goods, driving positive outcomes for the customers we serve on a global basis.”
The transaction has received unanimous support from a special committee of independent board members and Telus Digital’s Board of Directors, with interested directors abstaining.
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By GlobalDataRiel, indirectly owned by BPEA Private Equity Fund VI and the largest minority shareholder of TELUS Digital, also supports the transaction.
As agreed, shareholders can opt for payment in cash, Telus common shares, or a combination of both.
Telus currently controls approximately 86.9% of Telus Digital’s voting power.
The transaction is expected to conclude in the fourth quarter of 2025, subject to court and regulatory approvals.
The deal also requires backing from at least two-thirds of the votes cast by holders of subordinate voting shares and multiple voting shares of Telus Digital at a special shareholder meeting scheduled for next month.
