Telus International to acquire WillowTree for $1.225 billion including debt

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The deal is expected to close in January 2023. (Photo: The Canadian Press)

Vancouver – Telus International, a subsidiary of Telus, announced on Thursday that it has acquired full-service digital products provider WillowTree for $1.225 billion, including $210 million in debt) as it seeks to continue its growth.

The digital consulting firm explained that of the deal, $125 million will be paid in the form of subordinate voting shares of Telus International, approximately $160 million will be reinvested by certain eligible members of the management team, and the remainder will be paid in cash at the time of payment. conclusion of an agreement.

As part of the deal, majority shareholder Insignia Capital Group will sell its stake in WillowTree, having originally invested in the company in 2018.

Headquartered in Charlottesville, Virginia, WillowTree operates in the US, Canada, Brazil, Portugal, Spain, Poland and Romania and works with clients such as CBC, PepsiCo, Anheuser-Busch InBev, Manulife and Marriott.

Telus International says WillowTree will help it expand its global footprint in Brazil and Portugal and support product development across all of its businesses, especially in healthcare, agriculture and consumer products.

The agreement is expected to close in January 2023 and is subject to customary closing conditions and regulatory approval.

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