Telus Sells Stake in Outsourcing Unit to Baring

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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.

Telus Finds Right Partner in Baring

“We are excited to welcome Baring Asia’s entire team to the Telus family. With Baring Asia’s close to 20 years’ exceptional experience developing and growing companies through insightful, strategic counsel, a strong Asian market presence and an extensive global network, we have found the right partner for Telus International,” said Jeffrey Puritt, Telus International President.

Jean Eric Salata, CEO of Baring Asia, said Baring sees Telus as a strong company with best-in-class services, which has successfully developed from a captive provider to a leading market player serving diverse customers.

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“With an exceptional team, a portfolio of top-tier customers in fast-growing industries, and a strong global footprint, we believe that the company is in a great position to build on its past successes and establish its position as a leading international player in the space,” Salata said.

Launched by in 2005, Telus International has become a leading global provider of customer service, IT, and business process services to industry leaders across the telecommunications, utilities, high tech, gaming, finance, retail, e-commerce, travel and logistics, and health care sectors.

The outsourcing unit has more than 22,000 team members located in the United States, Philippines, Canada, Europe, and Central America serving clients in more than 35 languages. – BPONewsDaily.com

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