- FX Innovation to join Bell group of companies to strengthen
Bell's cloud managed and professional services practice
MONTRÉAL, May 4, 2023
/CNW/ - Bell today announced that it has entered into an agreement
to acquire FX Innovation, a Montréal-based provider of
cloud-focussed managed and professional services and workflow
automation solutions for business clients.
This agreement leverages the strengths of the two companies to
help businesses realize their digital transformation ambitions with
integrated multi-cloud solutions. FX Innovation's expertise in
cloud managed and professional services, combined with Bell's
national scale, resources and world-class fibre and 5G networks,
will deliver end-to-end solutions to help enterprises innovate and
grow their business. Together, this agreement will enable both Bell
and FX Innovation to scale their businesses, driving services
growth while delivering even greater value for their clients.
"We're genuinely excited that FX Innovation will join the
Bell group of companies. This really is an instance where the
result is greater than the sum of its parts. FX Innovation's depth
in cloud services will complement the strengths within Bell
Business Market's Advanced Products and Services team, and
together, we will enable customers to accelerate their digital
transformation through cloud adoption and management, backed by
Canada's best network."
- John
Watson, Group President, Business Markets, Customer
Experience & AI, Bell
FX Innovation is a leader in providing businesses with
end-to-end multi-cloud services, IT workflow automation solutions
and cloud consulting services. It has deep expertise with
ServiceNow, integrating the application within business
environments in Canada and
internationally. In addition, FX Innovation offers bilingual
services for customers to manage their public and hybrid cloud
environments with the world's most capable cloud providers,
including Amazon Web Services (AWS), Google Cloud and Microsoft
Azure. Like Bell, FX Innovation is headquartered in Montréal,
Québec, and is a strong supporter of technical skills development
in Canada.
"We are very excited about this important announcement, and to
partner with a fellow Québec-based company to advance cloud
services for organizations in Canada and beyond. By joining forces with
Bell, we will accelerate our journey to become a global player,
enable companies to realize their digital transformation
initiatives, and ultimately generate a positive impact for our
economy."
- Guillaume
Bazinet, Co-Founder and CEO, FX Innovation
"CDPQ has supported Montréal-based FX Innovation on its
strategic expansion plan since 2018, allowing the company to
generate growth and refine its service offering. The transaction
announced today will enable FX Innovation to continue growing
alongside a local player that has the necessary resources and
desire to take the company even further."
- Kim
Thomassin, Executive Vice-President and Head of Québec,
CDPQ
Upon the acquisition close, FX Innovation will continue to
operate independently under the leadership of the current
co-founder and CEO Guillaume
Bazinet. The transaction is subject to regulatory approvals
and is expected to close in the second or third quarter of
2023.
About Bell
Bell is Canada's largest communications company,1
providing advanced broadband wireless, TV, Internet, media and
business communication services throughout the country. Founded in
Montréal in 1880, Bell is wholly owned by BCE Inc. To learn
more, please visit Bell.ca or BCE.ca.
Through Bell for Better, we are investing to create a
better today and a better tomorrow by supporting the social and
economic prosperity of our communities with a commitment to the
highest environmental, social and governance (ESG) standards. This
includes the Bell Let's Talk initiative, which 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 leadership initiatives
throughout the country. To learn more, please
visit Bell.ca/LetsTalk.
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1 Based on
total revenue and total combined customer connections
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Media inquiries
Ellen
Murphy
ellen.murphy@bell.ca
Investor inquiries
Richard Bengian
richard.bengian@bell.ca
Caution Concerning Forward-Looking
Statements
Certain statements made in this news release are forward-looking
statements, including statements relating to the proposed
acquisition of FX Innovation by Bell, certain benefits expected to
result from the acquisition, Bell's business outlook, objectives,
plans and strategic priorities, and other statements that are not
historical facts. All such forward-looking statements are made
pursuant to the "safe harbor" provisions of applicable Canadian
securities laws and of the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to inherent risks and uncertainties and are
based on several assumptions which give rise to the possibility
that actual results or events could differ materially from our
expectations. These statements are not guarantees of future
performance or events, and we caution you against relying on any of
these forward-looking statements. The forward-looking statements
contained in this news release describe Bell's expectations at the
date of this news release and, accordingly, are subject to change
after such date. Except as may be required by applicable securities
laws, Bell does 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.
The completion of the proposed acquisition is subject to customary
closing conditions, termination rights and other risks and
uncertainties including, without limitation, regulatory approvals.
Accordingly, there can be no assurance that the proposed
acquisition will occur, or that it will occur on the terms and
conditions contemplated in this news release. The proposed
acquisition could be modified, restructured or terminated. There
can also be no assurance that the benefits expected to result from
the proposed acquisition will be realized. For additional
information on assumptions and risks underlying certain of our
forward-looking statements made in this news release, please
consult BCE Inc.'s (BCE) 2022 Annual MD&A dated March 2, 2023, BCE's 2023 First Quarter MD&A
dated May 3, 2023 and BCE's news
release dated May 4, 2023 announcing
its financial results for the first quarter of 2023, filed or to be
filed by BCE with the Canadian provincial securities regulatory
authorities (available at Sedar.com) and with the U.S.
Securities and Exchange Commission (available at SEC.gov).
These documents are available or to be made available
at BCE.ca.
SOURCE Bell Canada