Telus buying LifeWorks in Canadian tech tie-up

Telus Corp. said Thursday it agreed to pay C$2.3 billion ($1.8 billion) plus assume $C600 million in debt to buy LifeWorks Inc. , a Toronto-based human resource consulting and technology services company in the health and wellness sector. Telus will acquire all of the issued and outstanding common shares of LifeWorks for C$33 per share. Including the $C600 million in debt, the deal value for LifeWorks totals $C2.9 billion. Shares of LifeWorks closed at $18.20 on Wednesday. The stock is down 28.7% so far this year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.