Canadian national telecommunications firm Telus Corporation is selling a 35% stake of its international call center and outsourcing subsidiary to Baring Private Equity Asia for about USD600 million.
Telus has agreed to sell Telus International, which currently employs about 22,000 people in the US, the Philippines, Europe, Canada, and Central America, to Asian private equity firm Baring Private Equity Asia.
Telus International was formed in 2005 to provide customer service, IT and BPO services to companies in various industries.
Telus Corp will continue to own 65% of its call center and outsourcing subsidiary, which is wortha bout US$1 billion based on the price paid by Baring.
Telus president and chief executive Darren Entwistle noted that the company has faced economic challenges, particularly in Alberta, but remains operationally resilient.