In June, the Vancouver-based telco offered US$3.40 a share for the Telus Digital stock it didn’t own. It will now end up paying US$4.50, shelling out a total of US$539 million. Telus spun out a minority stake in the company in a 2021 public offering that raked in US$1.06 billion. (The Logic)

Talking point: Telus Digital sells technical and outsourcing services, from call centres to AI datasets; the spin-out made Telus a lot of money, but now CEO Darren Entwistle says Telus will benefit from “closer operational proximity,” especially to Telus Digital’s AI-oriented expertise. As a separate corporation, even majority owned by Telus, Telus Digital has had responsibilities to its own shareholders and the companies have had to work out contractual arrangements to account for Telus’s uses of its services. With Telus Digital’s largest minority shareholder, EQT, on side, Telus said it expects to close the deal by the end of the year.