BCE to buy remaining equity of Q9 Networks
Q9 was acquired in October 2012 by an investor group comprised of Bell, Ontario Teachers' Pension Plan Providence Equity Partners and Madison Dearborn Partners.
Bell currently holds a 35.4% stake in Q9 and will acquire the remainder from its fellow investors in a transaction valued at approximately $675 million, including Q9 net debt but excluding Bell's existing ownership interest. The transaction is expected to close before the end of 2016.
The acquisition supports Bell's ability to compete against domestic and international providers in the growing outsourced data services sector.
Bell Business Markets and Q9 managed data solutions and interconnected broadband fibre connectivity services are delivered through a network of secure, high-capacity data centres in locations across Canada.
Canada's largest communications company and the nation's leading investor in communication infrastructure and services since 1880, Bell delivers innovative broadband wireless, TV and Internet, home phone, media and other communications services to Canadian consumers and business customers. ■