Private equity firm EQT said on Monday it will exit its remaining stake in TELUS Digital by supporting TELUS Corporation’s plan to acquire full ownership of the AI-driven customer experience and digital solutions company.
The transaction, expected to close in the fourth quarter of 2025, will see EQT sell its final holding for $215 million, concluding a nearly decade-long investment.
EQT first invested in TELUS Digital in 2016, backing its transformation from a traditional outsourcing provider into a global leader in customer experience, digital transformation and AI solutions.
Since then, TELUS Digital has grown its workforce by more than 250% to over 78,000 employees, expanded operations across 30 countries, and increased EBITDA more than fivefold.
In 2021, the company listed shares on the New York and Toronto stock exchanges in what was then the largest-ever technology IPO in Toronto, allowing EQT to sell down part of its stake.
Overall, the firm said the exit represents an approximate fourfold return on investment.
TELUS Digital expanded through acquisitions including Voxpro, Lionbridge AI, Playment and WillowTree, strengthening its expertise in product design, content moderation and AI-driven data services.
Today, it serves global clients across telecommunications, e-commerce, gaming, finance and healthcare.
“We are proud to have supported TELUS Digital’s transformation into a global leader in customer experience and technology services,” said Janice Leow, partner at EQT Private Capital Asia. “Full integration with TELUS Corporation will create new opportunities for innovation and long-term development.”
TELUS CEO Darren Entwistle said EQT had been instrumental in evolving the company into a “world-leading enterprise solutions provider,” citing offerings such as customer experience management, digital development and the Fuel iX AI platform.
Business News Asia
