Bell last Thursday announced that it has entered into an agreement to acquire FX Innovation, a Montréal-based provider of cloud-focused 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.
Like Bell, FX Innovation is headquartered in Montréal, Québec, and is a strong supporter of technical skills development in Canada. 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.
John Watson, Group President, Business Markets, Customer Experience & AI, Bell
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.
Guillaume Bazinet, Co-Founder and CEO, FX Innovation
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.
Kim Thomassin, Executive Vice-President and Head of Québec, CDPQ
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.
