MONTRÉAL, Aug. 8, 2016 /CNW
Telbec/ - BCE Inc. (Bell) (TSX: BCE)
(NYSE: BCE) today announced
that it will acquire all equity it does not already own in Q9
Networks Inc., the Toronto-based
data centre operator providing outsourced hosting and other data
solutions to Canadian business and government customers.
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. To learn more, please visit
Bell.ca.
The Bell Let's Talk initiative promotes Canadian mental health
with national awareness and anti-stigma campaigns like Bell Let's
Talk Day and significant Bell funding of community care and access,
research, and workplace programs. To learn more, please visit
Bell.ca/LetsTalk.
Caution Concerning Forward-Looking Statements
Certain
statements made in this news release are forward-looking
statements, including, but not limited to, statements relating to
the proposed acquisition by BCE Inc. of the equity it does not
already own in Q9 Networks Inc., the expected timing of the
proposed transaction, certain strategic benefits expected to result
from the proposed transaction, and other statements that are not
historical facts. Forward-looking statements are typically
identified by the words assumption, goal, guidance, objective,
outlook, project, strategy, target and other similar expressions or
future or conditional verbs such as aim, anticipate, believe,
could, expect, intend, may, plan, seek, should, strive and will.
All such forward-looking statements are made pursuant to the "safe
harbour" provisions of applicable Canadian securities laws and of
the United States Private Securities Litigation Reform Act of
1995.
Forward-looking statements, by their very nature, are subject to
inherent risks and uncertainties and are based on several
assumptions, both general and specific, which give rise to the
possibility that actual results or events could differ materially
from our expectations expressed in or implied by such
forward-looking statements. As a result, we cannot guarantee that
any forward-looking statement will materialize and we caution you
against relying on any of these forward-looking statements. 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 may be required by
Canadian securities laws, we do not undertake any obligation to
update or revise any forward-looking statements contained in this
news release, whether as a result of new information, future events
or otherwise. Forward-looking statements are provided herein for
the purpose of giving information about the proposed transaction
referred to above and its expected impact. Readers are cautioned
that such information may not be appropriate for other
purposes.
The timing and completion of the proposed transaction are subject
to closing conditions, termination rights and other risks and
uncertainties including, without limitation, regulatory approval.
Accordingly, there can be no assurance that the proposed
transaction will occur, or that it will occur on the terms and
conditions, or at the time, contemplated in this news release. The
proposed transaction could be modified, restructured or terminated.
There can also be no assurance that the strategic benefits expected
to result from the proposed transaction will be realized.
Media inquiries:
Jean Charles Robillard
(514) 870-4739
jean_charles.robillard@bell.ca
Investor inquiries:
Thane Fotopoulos
(514) 870-4619
thane.fotopoulos@bell.ca
SOURCE Bell Canada