VANCOUVER – Telus International today announced it is acquiring full-service digital product provider WillowTree for a total enterprise value of US$1.23 billion, inclusive of US$210 million of assumed debt.
WillowTree, which focuses on end-user experience, was founded in 2008 and is headquartered in Charlottesville, Virginia. It operates 13 global studios.
“The company’s more than 1,000 digital strategists, designers, engineers and project managers partner with iconic brands on mission critical, large-scale initiatives, delivering world-class digital products that bridge the highest quality customer experiences with measurable performance,” a press release says.
“WillowTree’s client roster includes Fortune 500 companies across key verticals including telecommunications and media, healthcare and life sciences, financial services, consumer goods, travel and hospitality, and technology and software. Select clients include FOX, CBC, PepsiCo, Anheuser-Busch InBev (AB InBev), Synchrony, Manulife and Marriott.”
“As part of the transaction, majority stakeholder Insigna Capital Group will sell its stake in WillowTreee after initially investing in the company in 2018,” says a press release.
“We are excited to announce a strategic next step in our ambition to continue building TELUS International – an important and differentiated growth driver for TELUS – into a global asset of consequence, while significantly enhancing the end-to-end digital experiences of our customers around the world,” said Darren Entwistle, chair of the board of Telus International and president and CEO of Telus, in the release.
“The acquisition of WillowTree brings key tech talent and diversity to TELUS International’s portfolio of next-generation solutions, and further augments its digital consulting and innovative client-centric software development capabilities,” he said.
“Furthermore, WillowTree will enhance TELUS International’s ability to accelerate TELUS’ own ongoing digital transformation and support key product development across our business, particularly within health and agriculture and consumer goods.”
“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 Tobias Dengel, CEO of WillowTree.
“By combining the capabilities of these companies, we expect to be uniquely positioned to deliver frictionless, end-to-end user experiences, deploying a unified solution designed to allow our clients’ customers and employees to hop seamlessly among apps or websites, AI voice and bot engagement, and human voice or omnichannel support.”
The transaction, which is subject to regulatory approvals, is anticipated to close in January 2023.
For more, please click here.
