BCE acquiring 100% of Q9 Networks

Bell Canada Enterprises (BCE) has agreed to take full ownership of its part-owned data centre/hosting subsidiary Q9 Networks, which was bought in October 2012 by an investor consortium consisting of BCE, Ontario Teachers Pension Plan, Providence Equity Partners and Madison Dearborn Partners. BCE currently holds a 35.4 % stake in Q9 and will acquire the remainder from its fellow investors in a transaction valued at CAD675 million (USD513 million) including Q9 net debt but excluding Bell’s existing stake. The deal is expected to close by the end of this year.