TELUS to Acquire Lionbridge

TELUS International, a digital customer experience solutions provider, will acquire Lionbridge AI, a provider of crowd-based training data and annotation solutions used in the development of AI algorithms to power machine learning, for $935 million.

"We are excited to be welcoming the entire Lionbridge AI team to our TELUS International family. The addition of its industry-leading data annotation capabilities to our suite of next-generation digital solutions will support the expansion of our global service offerings and our penetration into the fast-growing new economy services market as we continue to advance our digital transformation strategy," said Jeff Puritt, president and CEO of TELUS International, in a statement. "As a unified team and company, we will be positioned to meet the end-to-end needs of today's tech hyperscalers and industry disruptors that are building the next generation of machine learning and AI systems to develop smarter products and services and deliver exceptional customer experiences."

"We are thrilled to be joining the TELUS International team as we share a like-minded commitment to innovating for our clients and a focus on our people whom we consider to be unique experts in our industry and a sustainable source of competitive advantage," said Ed Jay, president of Lionbridge AI, in a statement. "We are looking forward to working together with TELUS International to continue delivering the most valuable AI training data and platform for our clients, and to build upon the scale and momentum we have achieved through our crowd of contributors spanning diverse languages, cultures and geographies."