TELUS International completes Lionbridge AI acquisition

TELUS Corp. unit TELUS International (Cda) Inc. completed the acquisition of artificial intelligence-based data services provider Lionbridge AI from H.I.G. Capital LLC for $935 million.

The deal closing comes as the Committee on Foreign Investment in the U.S. cleared the transaction, according to a March 2 news release.

H.I.G will remain the owner of Lionbridge AI's parent company Lionbridge Technologies Inc.

Rothschild & Co. SCA served as financial adviser, and Shearman & Sterling LLP served as legal counsel to TELUS International. Meanwhile, Morgan Stanley & Co. LLC acted as financial adviser, and Kirkland & Ellis LLP served as legal adviser to H.I.G. and Lionbridge.