A digital customer experience (CX) innovator that designs, builds and delivers next-generation solutions for global and disruptive brands, TELUS International, has entered into an agreement to acquire Lionbridge AI, a global provider of crowd-based training data and annotation platform solutions used in the development of AI algorithms to power machine learning.
The acquisition will be at a purchase price of approximately US$935 million, subject to customary closing adjustments, and is expected to close on December 31, 2020.
Jeff Puritt, President and CEO of TELUS International, said – “We are excited to be welcoming the entire Lionbridge AI team to our TELUS International family. The addition of its industry-leading data annotation capabilities to our suite of next-generation digital solutions will support the expansion of our global service offerings and our penetration into the fast-growing new economy services market as we continue to advance our digital transformation strategy. “
He further added – “As a unified team and company, we will be positioned to meet the end-to-end needs of today’s tech hyperscalers and industry disruptors that are building the next generation of machine learning and AI systems to develop smarter products and services, and deliver exceptional customer experiences.”
Speaking on the development, Ed Jay, President of Lionbridge AI, said – “We are looking forward to working together with TELUS International to continue delivering the most valuable AI training data and platform for our clients, and to build upon the scale and momentum we have achieved through our crowd of contributors spanning diverse languages, cultures and geographies.”
Headquartered in Waltham, Massachusetts, Lionbridge AI has more than 750 employees working from countries around the world, including in the U.S., Ireland, Finland, India, UK, Japan, Denmark, Costa Rica and South Korea. A privately-held company with more than 20 years of industry experience – it is one of only two globally-scaled, managed training data and data annotation services providers in the world.
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