We are insulated from the US-China AI chip rivalry: Princeton Digital Group CEO
Rangu Salgame, Group Chairman and CEO of data center operator Princeton Digital Group, weighs in on the impact of the US-China tech rivalry on its business.
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Yahoo
35 minutes ago
- Yahoo
TELUS Submits Non-Binding Indication of Interest to Acquire Full Ownership of TELUS Digital
Acquisition would offer TELUS Digital shareholders liquidity at a compelling value and enhance TELUS Digital's ability to effectively respond to changing market dynamics Closer operational integration between TELUS and TELUS Digital to supercharge AI and SaaS transformation across telecommunications, health, agriculture and consumer goods sectors TELUS Digital to continue as a key enabler to TELUS' growth strategy and operational efficiency VANCOUVER, BC, June 12, 2025 /CNW/ - TELUS Corporation (TELUS) today announced that it has submitted a non-binding indication of interest (IOI) to the board of directors of TELUS International (Cda) Inc. (TELUS Digital) in respect of a proposed transaction pursuant to which TELUS would, directly or indirectly through one of its subsidiaries, acquire all of the issued and outstanding subordinate voting shares and multiple voting shares of TELUS Digital not already owned directly or indirectly by TELUS for a price per share of US$ 3.40 to be paid in cash, TELUS common shares or a combination of both. The proposed price represents a premium of approximately 15% to TELUS Digital's closing share price on the New York Stock Exchange (NYSE) on June 11, 2025, and a premium of approximately 23% over TELUS Digital's 30-day volume weighted average trading price based on Canadian composite (Toronto Stock Exchange and all Canadian marketplaces) and U.S. composite (New York Stock Exchange and all U.S. marketplaces) as of such date. TELUS has asked the TELUS Digital board of directors to begin a process to review the IOI and appoint a special committee of independent directors to evaluate the proposal. "Our proposal to fully acquire TELUS Digital reflects our belief that closer operational proximity between TELUS and TELUS Digital will enable enhanced AI capabilities and SaaS transformation across all lines of our business, including telecommunications, TELUS Health and TELUS Agriculture & Consumer Goods, driving positive outcomes for the customers we serve," said Darren Entwistle, President and CEO of TELUS. "We anticipate that our deep familiarity with TELUS Digital will enable us to conclude this proposed transaction, with appropriate engagement from TELUS Digital, quickly and efficiently and, post-closing, effectively integrate the business and the team. TELUS Digital will continue to be an important business unit within TELUS, underscored by its demonstrated leadership in customer service excellence, digital transformation and heartfelt caring in the communities where team members live, work and serve. Accordingly, we believe the terms of our proposal are compelling for TELUS Digital shareholders and our leadership team looks forward to working constructively with the independent members of TELUS Digital's board of directors to progress the proposed acquisition. Notably, we believe this proposed transaction will yield meaningful benefits for TELUS Digital and importantly, for our customers and investors." Any financing undertaken in the near term will be designed with a view to being neutral to TELUS' balance sheet net debt to EBITDA leverage ratio, as TELUS maintains focus on deleveraging priorities. The IOI is a non-binding indication of interest and is subject to, among other matters, confirmatory due diligence satisfactory to TELUS, agreement on transaction structure, the negotiation and execution of mutually acceptable definitive transaction documents, and the approval of the proposed acquisition by the TELUS Digital board of directors. Further, the consummation of the proposed acquisition, even if definitive transaction documents are entered into, would be subject to customary closing conditions for transactions of this nature, including, among others, the receipt of shareholder approvals required under applicable securities laws, including Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, and court approval. No agreement has been reached between TELUS and TELUS Digital, and no assurances can be given that definitive transaction documents with respect to the proposed acquisition will be entered into, as to the final terms of any transaction or that a transaction will be consummated. Barclays is acting as exclusive financial advisor to TELUS, and Stikeman Elliott LLP and A&O Shearman are acting as legal advisors. TELUS and its advisors stand ready to work with the TELUS Digital board of directors to agree the terms of, and implement, the proposed acquisition. TELUS currently beneficially owns an aggregate of 152,004,019 multiple voting shares and 6,874,822 subordinate voting shares, representing approximately 92.5% of the outstanding multiple voting shares, 6.1% of the outstanding subordinate voting shares, representing 57.4% of all outstanding shares, and 86.9% of the combined voting power of all outstanding shares. The foregoing percentages are based on 164,381,876 multiple voting shares and 112,477,222 subordinate voting shares issued and outstanding, as reported by TELUS Digital in its condensed interim consolidated financial statements for the three months ended March 31, 2025. TELUS currently has no additional plans or intentions that relate to its investment in TELUS Digital other than those described in the IOI. Nonetheless, it may or may not purchase or sell multiple voting shares, subordinate voting shares or other securities of TELUS Digital in the future on the open market or in private transactions, depending on market conditions and other factors. Depending on market conditions, general economic and industry conditions, TELUS Digital's business and financial condition and/or other relevant factors, TELUS may at any time develop other plans or intentions in the future relating to one or more of the actions set forth in Items 5(a) through (k) of TELUS' early warning report or Items 4(a) through (j) of TELUS' Schedule 13D. TELUS does not intend to make additional disclosure regarding the proposed acquisition until a definitive agreement has been reached or unless disclosure is otherwise required under applicable securities laws. A copy of the early warning report (to which a copy of the IOI is attached) filed by TELUS in connection with the submission of the IOI is available on TELUS Digital's profile on SEDAR+ at A copy of Amendment No. 3 to Schedule 13D (to which a copy of the IOI is attached) filed by TELUS in connection with the submission of the IOI is, or will be, available on the U.S. Securities and Exchange Commission's EDGAR database at Alternatively, you may contact TELUS Investor Relations at 1-800-667-4871 in order to obtain a copy of the early warning report or Amendment No. 3 to Schedule 13D. The headquarters and principal executive offices of TELUS Digital are located at Floor 5, 510 West Georgia Street, Vancouver, British Columbia, Canada V6B 0M3. This press release does not constitute an offer to buy or sell or the solicitation of an offer to sell or buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with registration and other requirements under applicable law. Forward-Looking Statements This news release contains forward-looking statements about future events pertaining to the proposed acquisition, including expectations in respect of the proposed acquisition and the completion of such proposed acquisition, the realization of expected benefits to TELUS, TELUS Digital and their respective shareholders, including the realization of the synergies and other benefits of combining TELUS Digital's businesses with TELUS, and the ability of the businesses of TELUS Digital to respond to changing market dynamics, seizing considerable growth opportunities and leveraging strong demand. The terms TELUS, we, us and our refer to TELUS Corporation and, where the context of the narrative permits or requires, its subsidiaries. Forward-looking statements include any statements that do not refer to historical facts, including statements relating to the proposed acquisition. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, strategy, target and other similar expressions, or future or conditional verbs such as aim, anticipate, believe, could, expect, intend, may, plan, predict, seek, should, strive and will. These statements are made pursuant to the "safe harbour" provisions of applicable securities laws in Canada and the United States Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements are subject to inherent risks and uncertainties and are based on assumptions, including assumptions about future economic conditions and courses of action. These assumptions may ultimately prove to have been inaccurate and, as a result, our actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements. There is significant risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from those described in the forward-looking statements. Among the factors that could cause actual results to differ materially include, but are not limited to, those relating to whether the proposed acquisition will be approved by the TELUS Digital Board, whether any definitive agreement will be successfully negotiated and executed in connection with the proposed acquisition, whether the proposed acquisition or any other transaction will be consummated, the possibility for the proposed acquisition, even if a definitive agreement is entered into, not to be completed on the terms and conditions, or on the timing, contemplated thereby, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required shareholder and court approvals and other conditions to the closing of the proposed acquisition or for other reasons, the possibility that TELUS may not realize any or all of the anticipated benefits from the proposed acquisition, as well as the other risk factors as set out in our 2024 annual management's discussion and analysis and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at and in the United States (on EDGAR at Additional risks and uncertainties that are not currently known to us or that we currently deem to be immaterial may also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as required by applicable law, TELUS disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. This cautionary statement qualifies all of the forward-looking statements in this document. About TELUS TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company, generating over $20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives worldwide through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Operating in 32 countries around the world, TELUS Digital (TSX and NYSE: TIXT) is a leading digital customer experience innovator that designs, builds, and delivers next- generation solutions, including AI and content moderation, for global and disruptive brands across strategic industry verticals, including tech and games, communications and media, eCommerce and fintech, banking, financial services and insurance, healthcare, and others. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed $1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company. For more information about TELUS, please visit follow us at @TELUSNews on X and @Darren_Entwistle on Instagram. Investor Relations Robert Mitchellir@ Media RelationsSteve View original content to download multimedia: SOURCE TELUS Communications Inc. View original content to download multimedia: Sign in to access your portfolio
Yahoo
40 minutes ago
- Yahoo
Ridgemont Equity Partners Leads Recapitalization of Unosquare
CHARLOTTE, N.C., June 12, 2025--(BUSINESS WIRE)--Ridgemont Equity Partners ("Ridgemont"), a middle market private equity investor, today announced its investment in Unosquare, LLC ("Unosquare" or the "Company"), a leading provider of nearshore AI-enabled digital engineering and data and analytics solutions. The Company currently serves US-based customers across diverse sectors, with specialization in financial services, healthcare, higher education, and technology. Unosquare has a team of over 1,000 professionals on three continents, with the majority of its delivery professionals residing in Latin America. "After multiple years evaluating opportunities in this dynamic sector as part of Ridgemont's business services vertical, we are thrilled to partner with Giancarlo Di Vece, CEO, and the exceptional management team at Unosquare. Unosquare is a strong fit for Ridgemont, and we see meaningful opportunities to support the Company by leveraging our network of industry operating executives and applying Ridgemont's value-creation playbook," said Anthony Cassano, Partner at Ridgemont. Ryan Shanahan, Principal at Ridgemont added, "We were particularly impressed by Unosquare's operational excellence, which is evident in its outstanding employee and customer satisfaction, strong retention rates, and industry-leading performance. We look forward to supporting the Company's continued growth, both organically and through targeted acquisitions, in this attractive and highly fragmented market." "We are thrilled to partner with Ridgemont, a move that marks a pivotal step in accelerating Unosquare's growth and reinforcing our position as a premier global digital engineering firm," said Giancarlo Di Vece, CEO of Unosquare. "Ridgemont brings strategic insight and deep industry expertise that align perfectly with our vision for the future. Together, we will drive transformative innovation – particularly in data-driven solutions and AI-powered engineering – while continuing to expand our global reach. At the same time, we remain firmly committed to our core values: putting people first, delivering outstanding client outcomes, and maintaining operational excellence." Unosquare's founder and management team will remain significantly invested in the Company alongside Ridgemont. Baird and Goodwin Procter LLP served as financial and legal advisors to Ridgemont, respectively. Clearsight Advisors, Inc. and Benesch served as financial and legal advisors to Unosquare, respectively. Debt financing for the transaction was provided by Crescent Direct Lending, Barings, and Reinsurance Group of America, Inc. About Unosquare: Unosquare is a global digital engineering partner delivering enterprise solutions with advanced capabilities and strategic positioning for data-intensive industries. Leveraging over 1,000 delivery professionals across North America, Latin America, and Europe, Unosquare harnesses the power of data, AI, and agile innovation to drive transformative outcomes for clients worldwide. About Ridgemont Equity Partners: Ridgemont Equity Partners is a Charlotte-based middle market private equity firm that has provided buyout and growth capital to industry-leading companies in the business services, industrials, and healthcare sectors for three decades. The principals of Ridgemont have demonstrated an industry-focused model designed to build distinctive middle market companies. View source version on Contacts info@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Android Authority
an hour ago
- Android Authority
First PS3 emulator hits the Play Store, goes open-source (kind of)
Nick Fernandez / Android Authority TL;DR PS3 emulator aPS3e is now available on the Google Play Store. From the mysterious Chinese developer aenu, it's based on the RPCS3 source code. The project now proclaims to be open-source, but may not be meeting requirements. It's been a few months since the first PS3 emulator launched on Android, and what a busy few months it's been. The sudden appearance (and disappearance) of aPS3e brought forth a renewed interest in PS3 emulation on Android, with one of the original RPCS3 devs now working on a port. Now, aPS3e is available on the Play Store, and it seems to be taking steps toward becoming more legit. To recap, aPS3e is a PS3 emulator on Android based on the RPCS3 source code. Coming from an unknown Chinese developer called aenu, it mashes together code from RPCS3, Vita3K, and Termux to create a working Android port. Our early testing in February showed that it still has a long ways to go, with only a handful of games managing to launch. Once the initial excitement died down, it became clear that the developer was playing fast and loose with open-source licences. Essentially, they made aPS3e entirely closed-source, despite using code from a number of open-source projects. The official GitHub was closed without warning a few days after launching. Furthermore, the developer began asking for donations to continue development. Once the $2000 donation goal was reached, the source code would be released. The developer claimed they weren't familiar with how licensing works, but it still rubbed many emulation fans the wrong way. After a sketchy start, the aPS3e dev is attempting to go legit. Skipping ahead a few months, aPS3e now proclaims to be open-source, and it's back on GitHub. However, it seems the developer hasn't taken all the necessary steps toward becoming open-source. The code is available on GitHub, but there's no license page, nor any mention of the license in the Readme page. Without a stated license, it may still cause problems for the developer. GitHub's licensing page reads that 'without a license, the default copyright laws apply, meaning that you retain all rights to your source code and no one may reproduce, distribute, or create derivative works from your work. If you're creating an open source project, we strongly encourage you to include an open source license.' Nevertheless, aPS3e is now officially available on the Google Play Store for free without ads. There is a paid version that costs $5, but it's the same app and the money is essentially a donation to support the developer. Before you download, be aware that it's still early in development, and you will need a very powerful phone to run any games at all. Got a tip? Talk to us! Email our staff at Email our staff at news@ . You can stay anonymous or get credit for the info, it's your choice.
