07:42 AM EDT, 09/02/2025 (MT Newswires) -- Telus ( TU ) and Telus Digital (TIXT) have agreed that Telus ( TU ) will acquire all Telus Digital shares that it does not already own for $4.50 per share in a $539 million deal, the companies said on Tuesday.

The companies said that shareholders can choose to receive the payment in cash, Telus ( TU ) shares, or a combination of both.

The deal, which was unanimously approved by Telus Digital's board and a special committee of independent directors, values Telus Digital's equity at $1.3 billion and the total enterprise value at $2.9 billion, the companies said.

Telus ( TU ) currently controls 86.9% of Telus Digital's voting power, and Telus Digital's major minority shareholders, including EQT, have agreed to support the deal, the companies said.

The acquisition will be carried out under a court-approved plan of arrangement, with a shareholder vote scheduled for Oct. 27, the companies said.

They added that if approved, the deal is slated to be completed in Q4, after which Telus Digital will be delisted from the New York Stock Exchange and Toronto Stock Exchange and it will no longer be a reporting issuer in Canada.