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Canada's Telus to acquire Lionbridge AI in $935 million deal

·1 min read

(Reuters) - Canadian telecoms company Telus Corp <T.TO> said on Friday its unit Telus International would buy data services provider Lionbridge AI in a $935 million deal.

Lionbridge AI provides solutions for data labeling and annotation, which are used for developing artificial intelligence models.

The Lionbridge acquisition is expected to close on Dec. 31, 2020, the company said.

It added that Telus International was on track to go public during the first quarter of 2021.

(This story corrects deal value to $935 million from $919 million in headline and paragraph 1)

(Reporting by Tiyashi Datta in Bengaluru; Editing by Aditya Soni)