- EQT confirmed a complete exit from TELUS Digital as TELUS advances plans to acquire the outstanding shares.
- The deal underlines operators’ push to internalise AI capabilities within customer-experience and digital platforms.
What happened: EQT cashes out as TELUS pursues full ownership
Telecoms.com reports that EQT will sell its remaining stake in TELUS Digital for US$215 million, exiting a multi-year investment in the AI-driven customer-experience and digital solutions business. EQT said it will vote in favour of TELUS Corporation’s proposed acquisition of the unit, enabling TELUS to consolidate strategy and execution across its digital stack. See.
Context: TELUS has been working toward full ownership of TELUS Digital this year; in June it outlined a buy-in rationale centred on tighter control of AI capabilities, and in early September it announced terms to purchase the remaining shares in a cash-and-stock deal, pending customary approvals.
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Why it’s important
For TELUS, bringing TELUS Digital fully in-house fits a broader operator pattern: fold AI, data and software assets into the core to accelerate product roadmaps and protect IP. TELUS previously argued that full ownership would help integrate AI across operations and customer experience, a theme echoed in its public commentary this summer.
Yet questions remain for customers and investors. Integration risk is real after prolonged public-market underperformance at the subsidiary; governance will be scrutinised around capital allocation, measurable AI ROI, and delivery against service-level commitments. For EQT, the sale crystallises proceeds but also removes exposure to any upside from TELUS’s AI strategy. Ultimately, execution—retaining talent, unifying platforms, and proving cost-to-serve gains—will determine whether the buy-in delivers beyond headline valuation.
