Telus International acquires Xavient Information Systems for $250mn
Vancouver’s Telus International has acquired global IT consulting and software services company, Xavient Information Systems, in a deal worth $250mn.
Headquartered in Simi Valley, California, Xavient is host to approximately 1,800 employees, operating throughout the United States and India. The firm specialises in a number of sectors including telecommunications, media, entertainment, healthcare and financial services.
Telus will initially acquire a 65% stake in Xavient, retaining the right to acquire the remaining 35% stake any time before the beginning of 2021.
The Canadian telco giant aims to utilise the acquisition in the way of expanding its global service offerings, largely through the addition of advanced IT capabilities including cloud, big data, Internet of things (IoT) services, amongst others.
The deal is the second acquisition that Telus has made in quick succession, having acquired customer service and technical support specialist VoxPro back in August.
The transaction is expected to complete before the end of 2017, subject to customary conditions.