Canadian telecommunications giant Telus has agreed to reclaim its spinout, Telus Digital, from the public markets. The parent company will pay $539 million USD ($743 million CAD) as it looks to bring its digital and artificial intelligence (AI) capabilities closer to home.

Telus will purchase all of the outstanding shares of Telus Digital for $4.50 USD per share in cash, or a fractional share in the parent company, at a shareholder’s discretion. The offer is a modest bump up from Telus’s original proposal of $3.40 USD per share from June, when it first made known its intention to reabsorb Telus Digital.

The transaction reflects the company’s belief that “closer operational proximity” between Telus and Telus Digital will enable enhanced AI capabilities across the business.

Telus Presiden

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