Australian-based Appen, which develops datasets to help build and improve AI systems, said the Vancouver-based Telus spinoff “informed us that they were revoking their indicative proposal” without giving any reasons. (Reuters)

Talking point: Telus International said in a statement that “after an initial evaluation [we] made the decision to walk away from our non-binding offer.” The company, which provides products and services for digital customer experiences, said it maintains “a very healthy and robust” pipeline of acquisition targets and performs “robust” evaluations of all of them. It made the A$9.50 per share offer earlier Thursday, sending Appen’s shares up nearly 30 per cent in morning trading. Telus International, a division of the telecom until it went public in early 2021, has grown through acquisitions, completing deals to bring Lionbridge AI and Playment into its fold last year. Its CEO Jeff Pruitt told The Logic last year he intends to continue growing the company by acquiring more firms.