202102 Mar
TELUS International completes acquisition of Lionbridge AI
Type
Acquisitions
Source
Businesswire
Summary

VANCOUVER, British Columbia--(BUSINESS WIRE)--TELUS International (NYSE and TSX: TIXT), a leading digital customer experience (CX) innovator that designs, builds, and delivers next-generation solutions for global and disruptive brands, today announced the final completion of the December 31, 2020 closing of its previously announced acquisition of a 100% interest in Lionbridge AI, following the clearance of the acquisition by the Committee on Foreign Investment in the United States (CFIUS). “The integration of digital CX services and solutions, powered by artificial intelligence (AI) and machine learning, has quickly become a key differentiator for brands in today’s experience economy, driving significant benefits by way of increased customer loyalty and satisfaction, larger market share and revenue growth,” said Jeff Puritt, president and CEO of TELUS International. “The caveat is that these next-gen capabilities, such as intelligent chatbots, voice-activated virtual assistants and optimized search engines, must be trained on large amounts of accurate, reliable and unbiased data in order to be effective. “Our team’s commitment in this regard includes fostering a diverse, experienced and tenured team of human annotators, ensuring the optimum demographic distribution for each project, and establishing clear guidelines that focus on uniformity and consistency of data labeling, but that also consider the flexibility required to address the inevitable ambiguity of real world data.” Rothschild & Co served as financial advisors and Shearman & Sterling LLP served as legal counsel to TELUS International for this transaction. TELUS International (NYSE and TSX: TIXT) designs, builds and delivers next-generation digital solutions to enhance the customer experience (CX) for global and disruptive brands.

Classifications
  • Fintech & Banking
  • Virtualization & Network Resources
  • Networking
  • Business Intelligence
  • General BI