BCE to buy out PE co-owners of Q9 Networks for $675 mln
BCE Inc (TSX, NYSE: BCE) has agreed to acquire the equity it does not already hold in Q9 Networks Inc, a Toronto-based outsourced data centre operator. BCE, which currently owns a 35.4 percent stake in Q9, said it will pay about $675 million to Ontario Teachers' Pension Plan, Providence Equity Partners and Madison Dearborn Partners, which own the rest of the company's equity. The deal is expected to close before the end of the year. BCE, Ontario Teachers', Providence and Madison jointly bought Q9 for $1.1 billion in late 2012. BCE said its acquisition of 100 percent of the business will help it compete in the growing outsourced data services industry.
8 August 2016•4 mins read
