Lionbridge to Focus on Core Language Customers Post AI Division Sale to TELUS International
Lionbridge, a global leader in translation and localization solutions confirmed today the sale of its Artificial Intelligence division i.e. Lion-bridge AI to TELUS International. The latter is a digital customer experience innovator that designs, builds, and delivers next-generation solutions for global and disruptive brands. It is also a subsidiary of Canada-based TELUS Corporation, a leading communications and information technology company.
With the sale, Lionbridge will extend TELUS International’s portfolio of next-generation of digital solutions as the organization team up to support the rapidly advancing field of AI. The deal will further boost the firm’s commitment to delivering innovation for its core language customers across technology, life sciences, games, digital commerce, and more.
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“Combining Lionbridge’s AI business with TELUS International’s advanced set of digital platforms will create a newly formed company with a unique set of cutting-edge solutions. In addition to enhancing TELUS International’s go-to-market strategy, we felt this merger was a very good cultural fit for our talented global team given our companies’ shared commitment to employee engagement and well-being,” said John Fennelly, CEO of Lionbridge. “I have no doubt that our AI team and their expanding community will continue to thrive as part of TELUS International.”
“2021 will mark the 25th anniversary of Lionbridge and there is no better time for us to return to our roots, lead the way in transforming the language space and continue to deepen our relationships with our customers,” continued Fennelly. “I’m excited for the possibilities in store as we enter this next chapter and accelerate our focus on innovation, technology and bringing new products and services to market.”
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Morgan Stanley & Co. LLC acted as financial advisor and Kirkland & Ellis LLP served as legal advisor to Lionbridge in connection with the transaction.
TELUS International announced the final completion of the December 31, 2020 closing of its previously announced acquisition of a 100% interest in Lionbridge AI, following the clearance of the acquisition by the Committee on Foreign Investment in the United States (CFIUS).
And in the last month of February, TELUS International announced a partnership with Google to expand accelerate business digital transformation. This strategy focuses on the migration of applications to Google Cloud and the modernization of infrastructures, areas that are inseparable from any digital transformation. As part of this expanded partnership, TELUS International will also provide implementation services for the Google Cloud Contact Center AI solution to help businesses modernize their contact centers and deliver a digital customer experience, differentiated to their customers.
Last year’s October also marks the company’s launch of its Innovation Labs (iLabs), an R&D initiative that represents the company’s investment in developing next-generation solutions for future customer interactions. Driven by a group of internal innovators, researchers, and visionaries, iLabs leverages TELUS International’s unique methodologies, best practices, and deep expertise to develop solutions that can enable clients to differentiate themselves in increasingly competitive marketplaces.
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