Telus to Take Full Control of Telus Digital in $539 Million Deal
By Adriano Marchese
Telus is set to acquire the shares of Telus Digital it doesn't already own for $539 million, a move to fold the former Telus International unit's artificial-intelligence and software-as-a-service capabilities into its core businesses.
The Vancouver, British Columbia-based telecom company said it struck a definitive agreement to buy all the outstanding multiple and subordinate voting shares of Telus Digital for $4.50 apiece, a 52% premium to the stock's price before Telus first floated an offer in June. The equity purchase values Telus Digital at about $1.3 billion.
"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," Chief Executive Darren Entwistle said.
Telus Digital, spun out in a 2021 initial public offering as Telus International, provides customer-experience and information-technology services apart from Telus' core telecommunications arm. The parent company currently holds 92.5% of its multiple voting shares and 6% of its subordinate voting shares, representing 57.4% of its equity and nearly 87% of the voting power.
The deal, which is expected to close in the fourth quarter, comes as Telus Digital's New York-traded stock has slipped about 3% for the year through Friday, when it closed at $3.88.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
September 02, 2025 07:40 ET (11:40 GMT)
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