Parties
Company
Bell Canada
Company
FX Innovation
Bell announced its acquisition of FX Innovation, a Montréal-based cloud services provider, aiming to boost digital transformation for businesses with multi-cloud solutions. This strategic move combines FX Innovation's cloud expertise with Bell's extensive resources, including its leading fibre and 5G networks, to offer comprehensive end-to-end solutions for enterprise innovation and growth. The collaboration is poised to enhance service offerings and deliver superior value to clients by leveraging FX Innovation's proficiency in cloud managed and professional services and its significant experience with ServiceNow. FX Innovation, known for its bilingual services and partnerships with major cloud providers like AWS, Google Cloud, and Microsoft Azure, will operate independently post-acquisition under CEO Guillaume Bazinet. The deal, expected to close in the second or third quarter of 2023, awaits regulatory approval. This acquisition reflects Bell's commitment to enhancing its business market services and FX Innovation's goal to become a global player in cloud services, supported since 2018 by CDPQ's investment in FX Innovation's expansion.
Deal Type
Merger & AcquisitionIndustry
Tech/Computer/ITTransaction
$ 100,000,000Deal Status
ClosedClosing Date
01 June 2023