Canadian telecommunications firm Telus has signed a definitive settlement to accumulate the remaining shares of its digital providers unit for $4.50 per share, amounting to an combination consideration of $539m.
The settlement was signed practically three months after the telecom firm submitted a non-binding indication of curiosity to imagine full possession of Telus Digital.
The deal, which carries a complete transaction worth of practically $2.9bn, is aimed toward facilitating nearer integration of Telus’ AI and software program capabilities. Telus Digital offers a spread of providers, together with buyer expertise administration, digital options, AI-fuelled automation, and safety providers.
Telus president and CEO Darren Entwistle stated: “Telus Digital’s world-leading capabilities in digital buyer expertise options and AI improvements are extremely complementary to our technique at Telus.
“The transaction is absolutely reflective of our perception that nearer operational proximity between Telus and Telus Digital will allow enhanced AI capabilities and SaaS transformation throughout all traces of our enterprise, together with telecommunications, Telus Well being and Telus Agriculture & Shopper Items, driving constructive outcomes for the purchasers we serve on a worldwide foundation.”
The transaction has obtained unanimous assist from a particular committee of impartial board members and Telus Digital’s Board of Administrators, with administrators abstaining.
Riel, not directly owned by BPEA Personal Fairness Fund VI and the biggest minority shareholder of TELUS Digital, additionally helps the transaction.
As agreed, shareholders can go for fee in money, Telus frequent shares, or a mixture of each.
Telus at present controls roughly 86.9% of Telus Digital’s voting energy.
The transaction is predicted to conclude within the fourth quarter of 2025, topic to court docket and regulatory approvals.
The deal additionally requires backing from at the least two-thirds of the votes solid by holders of subordinate voting shares and a number of voting shares of Telus Digital at a particular shareholder assembly scheduled for subsequent month.
