December 5, 2019 / 1:21 AM / 3 months ago

Telus International to buy private business service provider for $1 billion

FILE PHOTO: A Telus Corporation sign is pictured in Ottawa, Ontario, Canada, November 8, 2017. REUTERS/Chris Wattie

(Reuters) - Canadian firm Telus Corp (T.TO) said on Wednesday its unit will buy Germany-based business service provider Competence Call Center (CCC) for about 915 million euros ($1.01 billion), which consists of debt and equity.

The deal between Telus International and CCC is expected to close in the early part of the first quarter of 2020.

Telus Corp said it expects the unit’s combined annualized revenue in 2019 to surpass C$1.75 billion ($1.32 billion) and sees earnings before interest, taxes, depreciation and amortization (EBITDA) increasing to about C$400 million.

The company also said the acquisition will boost Telus International’s value which is poised for a potential initial public offering (IPO) targeted in the next 12-24 months.

Competence Call Center provides business services, focusing primarily on customer relationship management and content moderation.

Reporting by Neha Malara in Bengaluru; editing by Uttaresh.V

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