Telus to buy remaining digital unit stake for $539 million
Telus said on Tuesday it would buy the remaining shares in its digital services unit in a $539 million cash-and-stock deal, as the Canadian telecom company looks to expand its artificial intelligence capabilities.
The company has offered $4.50 per share to buy the Telus Digital shares it does not own and take the unit private. The deal has a total transaction value of about $2.9 billion, the companies said.
Telus is taking full ownership of its digital services unit, which offers IT services, to better integrate the subsidiary’s AI and software capabilities.
