TELUS International acquires WillowTree
Digital customer experience innovator TELUS International recently announced a definitive agreement to acquire full-service digital product provider WillowTree.
Under the deal, TELUS International will buyout WillowTree for a total enterprise value of US$1.225 billion, inclusive of US$210 million of assumed debt.
As part of the transaction, majority stakeholder Insignia Capital Group will sell its stake in WillowTree after initially investing in the company in 2018.
TELUS CEO Darren Entwistle said that the acquisition of WillowTree will bring key tech talent and diversity to the company’s portfolio of next-generation solutions, and further augments its digital consulting and innovative client-centric software development capabilities.
Founded in 2008, WillowTree is headquartered in Charlottesville, Virginia, and operates 13 global studios across the United States, Canada, Brazil, Portugal, Spain, Poland, and Romania. The company’s more than 1,000 employees aim to deliver world-class digital products that bridge the highest quality customer experiences with measurable performance.
“We are excited to share today’s news alongside TELUS International, announcing that we will unify our teams and missions to design, build and deliver premium, disruptive and human-centered outcomes for some of the most admired brands in the world,” said WillowTree CEO Tobias Dengel.
The acquisition is anticipated to close in January 2023 and is subject to customary closing conditions and regulatory approvals.
