Canada's largest communications company, Bell Canada announced that it will acquire the remaining stake in Q9 Networks, 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 led by Bell. 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.
Montreal-based Bell delivers innovative broadband wireless, TV and Internet, home phone, media and other communications services to Canadian consumers and business customers. The acquisition supports Bell's ability to compete against domestic and international providers in the growing outsourced data services sector via its Business Markets division.
Both companies can derive synergies to offer managed data solutions and interconnected broadband fibre connectivity services that are delivered through a network of secure, high-capacity data centres in locations across Canada.
