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Companies

Bell to buy xwave for $40 million

HALIFAX – Bell Aliant announced that an agreement has been reached to sell xwave, in its entirety, to Bell Canada.

“We believe the time and opportunity is right for this transaction and by divesting xwave now, Bell Aliant is able to further focus on our core priorities such as fibre-to-the-home, improve our balance sheet and ensure long-term value to our investors,” said Karen Sheriff, president and CEO, Bell Aliant.

“We have known for some time that for xwave to continue to expand nationally and grow profitability, they needed access to scale,” she said. “Combining with Bell gives xwave access to a national market and additional IT capabilities they do not have today.”

With xwave now part of a national organization, customers will benefit from xwave’s proven expertise and also have access to a broader slate of national technology and professional services provided through Bell Business Markets.

xwave has operated as part of Bell Aliant and its predecessor companies for a number of years, with particular focus on advanced technology solutions and IT professional services, including the provision of leading e-health solutions.

“We are eager to welcome the skilled xwave team, building on their excellent service to clients in Atlantic Canada,” said Stéphane Boisvert, president, Bell Business Markets.

“Combining xwave’s leading e-health, IT professional services and advanced technology solutions with Bell Business Markets’ national team of information and communications technology (ICT) professionals, and our world-class broadband networks, enhances our leadership in delivering the best solutions for healthcare, public sector and corporate enterprise customers,” Boisvert said.

The purchase price of $40 million has been assessed as fair value by an independent valuator. The transaction is expected to close on January 1, 2011.

Bell, Bell Aliant and xwave will work together to ensure a seamless transition for employees, partners and customers.

About Bell Aliant
Bell Aliant is one of North America’s largest regional communications providers and the first company in Canada to cover an entire city with fibre-to-the-home (FTTH) technology with its FibreOP services. Through its operating entities it serves customers in six Canadian provinces with innovative information, communication and technology services including voice, data, Internet, video and value-added business solutions. Through its xwave offices, Bell Aliant also provides IT professional services and advanced technology solutions. Bell Aliant’s employees deliver the highest quality of customer service, choice and convenience. For more information about Bell Aliant visit www.bellaliant.ca.

About xwave
xwave, a division of Bell Aliant, is an Information Technology company that provides customers with Advanced Technology Solutions and IT Professional Services, including leading e-health solutions. Through highly-skilled IT professionals, xwave plans, designs, builds, and delivers technology solutions that meet customers’ business needs. xwave employs 500 people in offices in St. John’s, Halifax, Moncton, Saint John, Fredericton, Summerside, Montreal, Ottawa, and Toronto. More information can be found at www.xwave.com.

Posted November 4, 2010

 

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