VANCOUVER, British Columbia-Telus Corp. completed the sale of its directory information services business to Verizon Information Services, a Yellow pages and online directory provider.
Telus said it would use the $527 million in gross proceeds to pay down debt and help finance its national growth strategy.
“The sale of our directory operations to Verizon will allow us to concentrate on our core business and our strategy of exploiting the convergence data, Internet Protocol and wireless technologies for the benefit of our customers across Canada,” said Jim Peters, executive vice president of Telus Corporate Development.
Verizon Information Services also signed a multi-year license and services agreement with Amdocs to provide a consolidated solution for its Yellow pages, white pages and electronic products, which serve approximately 1.8 million business customers.
The agreement involves Amdocs and VIS partnering to develop and maintain multiple solutions, including single core business systems and customer retention management applications.
