Lionbridge AI of
Currently owned by a private company, Lionbridge AI employs more than 750 employees in
Lionbridge also recruits and trains tens of thousands of contract workers around the world who label various types of data to make it usable for AI systems.
Telus currently owns about two-thirds of TI's equity and expects to own more than 50 per cent after the planned IPO, which is expected to be in the first quarter of 2021.
Telus chief executive
"This acquisition advances Telus' commitment to harness the power of technology and data to provide outstanding customer experiences on a global basis," Entwistle said.
He also credited the international division with helping
Analysts said
Net income attributable to Telus common shares fell to
On an adjusted basis, Telus earned
Operating revenue totalled
The revenue was above analyst estimates of
Some of the earnings miss was due to the loss of high-margin revenue for wireless roaming fees, due to a lack of travel, and other COVID-related factors during the quarter.
However, Telus did better than expected in adding to its customer base, including 111,000 wireless phone subscribers (compared with estimated 84,000), 50,000 internet customers (compared with estimated 29,000) and 19,000 TV subscribers (13,000 estimated).
The Telus quarterly report concluded the telecom and cable industry's fall earning season.
On the whole, there was a consistent message from the country's largest wireless and internet companies, which saw their telecom operations show a strong rebound from the worst impact they've felt from the COVID-19 pandemic during the second quarter.
Telus shares closed Friday at
This report by
Companies in this story: (TSX:T)
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