BCE Inc. (Bell; TSX: BCE, NYSE:BCE) says it will acquire the 64.6% equity it does not already own in Q9 Networks Inc., a Toronto-based data center operator. Bell values the transaction at approximately CAN$675 million for the equity, a figure that includes Q9's net debt but not Bell's present ownership interest. The transaction is expected to close before the end of this year.
Bell joined with the Ontario Teachers' Pension Plan, Providence Equity Partners, and Madison Dearborn Partners to acquire Q9 in October 2012. By buying out its partners, Bell expects to compete better against domestic and international providers in the growing outsourced data services sector.
Bell Business Markets and Q9 managed data services and interconnected broadband fiber-optic connectivity services are delivered through a network of secure, high-capacity data centers in locations across Canada.
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