Core Insights - TELUS Corporation has reached a definitive agreement to acquire all outstanding shares of TELUS International, valuing each share at $4.50, totaling approximately $539 million [1][9] - The acquisition is expected to enhance TELUS's digital customer experience, accelerate AI capabilities, and drive SaaS transformation across its core businesses [3][9] - The deal has been unanimously approved by TELUS Digital's board and is supported by EQT, the largest minority shareholder [4][5] Financial Details - Shareholders will have three payment options: $4.50 in cash, 0.273 of a TELUS common share, or a combination of $2.25 in cash and 0.136 of a TELUS share, with no more than 25% of the total consideration paid in shares [2] - The agreed price represents a 52% premium over TELUS Digital's closing share price of $2.96 on June 11, 2025 [2] - The transaction values TELUS Digital at $2.9 billion and is subject to shareholder, court, and regulatory approvals [5] Strategic Implications - The acquisition aligns with TELUS's broader strategy to strengthen its position in digital transformation, AI, and global innovation across multiple industries [3][5] - TELUS Digital's operating revenues increased by 8% in Q2 2025, aided by a stronger U.S. dollar and euro, while adjusted EBITDA decreased by 25.8% year-over-year [6] - The integration aims to enhance TELUS's capabilities in fintech, gaming, media, and healthcare, ensuring substantial value creation for shareholders [3][5] Approval Process - A special shareholder meeting is scheduled for October 27, 2025, with TELUS Digital shareholders of record on September 12 eligible to vote [5] - If approved, the transaction is expected to close in Q4 2025, after which TELUS Digital's shares will be delisted [5][9]