Canadian telecom giant Telus has announced its intention to acquire all remaining shares in its digital services arm, Telus Digital, as part of a strategic push to strengthen its artificial intelligence capabilities and streamline operations. The company currently owns about 57% of Telus Digital’s outstanding shares and has offered $3.40 per share to acquire the rest, valuing the subsidiary at approximately $946.8 million.
The proposed offer represents a 15% premium over the last closing price of Telus Digital’s U.S.-listed stock, which has seen a 24% decline this year, in contrast to Telus’ main U.S. listing which has gained nearly 19%. The acquisition underscores Telus’ focus on bringing its digital unit closer under its control to better drive AI integration and SaaS (Software-as-a-Service) transformation across its business lines.
CEO Darren Entwistle emphasized that the move reflects a firm belief in the power of operational proximity to unlock enhanced AI performance and accelerate digital transformation. Telus Digital currently supports global businesses in AI adoption and data strategy development amid increasing global interest in artificial intelligence.
In line with this vision, Telus recently pledged over C$70 billion in infrastructure investment in Canada over the next five years, including the launch of two state-of-the-art AI data centers. Barclays is serving as the financial advisor on the acquisition deal, which marks a bold step in Telus’ evolving digital strategy.