Bell to acquire full ownership of PE-owned Q9 Networks for $675M
BCE Inc. (Bell Canada Enterprises) has announced its plans to acquire the entity is does not already hold in Q9 Networks Inc., a Toronto-based outsourced data centre operation. BCE, which currently owns a 35.4 per cent stake in Q9, says it will pay about $675 million to Ontario Teachers’ Pension Plan (OTPP), Providence Equity Partners and Madison Dearborn Partners, who together own the rest of the company’s equity.
BCE, OTPP, Providence and Madison jointly bought Q9 for $1.1 billion in late 2012.
The acquisition—which is expected to close before the end of the year— supports Bell’s ability to compete against domestic and international providers in the growing outsourced data services sector.