TELUS announces sale of its financial solutions business to Dye & Durham for $500 million - Seite 2

With its leading infrastructure and technology solutions, combined with its customers first focused team and deep history of collaboration with financial communities, TELUS’ financial solutions business and its team members will enhance Dye & Durham’s portfolio of leading cloud-based solutions servicing global clients across legal, corporate, government, and financial industries with a focus on digitizing small business’ processes. The financial solutions business complements Dye & Durham with their digital financial ecosystem with established solutions across payment processing, real estate technology and digital banking managed solutions serving well established customers within the financial services vertical.

TELUS’ annual consolidated financial targets for 2021 remain unchanged and consolidated financial results for 2021 are not expected to be materially impacted by the sale of the financial solutions business. The tax gain from the sale will be subject to an income tax payment, estimated to be approximately $65 million, to be paid in 2021. Our revised cash tax assumption for 2021 of $480 to $560 million, as updated in our third quarter 2021 earnings release dated November 5, 2021, is inclusive of this amount.

Scotiabank acted as a financial advisor to TELUS on the sale of the business.

About TELUS
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications technology company with $16 billion in annual revenue and 16 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. We leverage our global-leading technology and compassion to enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. In 2020, TELUS was recognized as having the fastest wireless network in the world, reinforcing our commitment to provide Canadians with access to superior technology that connects us to the people, resources and information that make our lives better. TELUS Health is Canada’s leader in digital health technology, improving access to health and wellness services and revolutionizing the flow of health information across the continuum of care. TELUS Agriculture provides innovative digital solutions throughout the agriculture value chain, supporting better food outcomes from improved agri-business data insights and processes. TELUS International (TSX and NYSE: TIXT) is a leading digital customer experience innovator that delivers next-generation AI and content management solutions for global brands across the technology and games, ecommerce and FinTech, communications and media, healthcare, travel and hospitality sectors. TELUS and TELUS International operate in 25+ countries around the world. Together, let’s make the future friendly.