From Yahoo Finance: 2025-06-12 09:27:00

Telus plans to acquire remaining shares in its digital services subsidiary for $946.8 million, aiming to enhance AI capabilities. The offer of $3.40 per share is a 15% premium to the last closing price. The move reflects Telus’ strategy to strengthen control over AI and data strategies.

Telus CEO Darren Entwistle stated that acquiring Telus Digital will enhance AI capabilities and SaaS transformation. The company is investing over C$70 billion in Canada for network infrastructure expansion, including launching two new AI data centers. Barclays is serving as Telus’ financial advisor for the acquisition.

Telus aims to gain operational proximity with its digital unit to boost AI capabilities and SaaS transformation. The company’s investment in Canada includes expanding network infrastructure and launching two new AI data centers. The move comes as part of a worldwide push to harness technology for business advancement.

Read more: Telus offers to fully own digital unit for greater control of AI capabilities