Bell Emergis, MPACT Immedia to Merge
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The deal will introduce a major new player on the electronic commerce scene bolstered by a combined annual revenue of approximately $75 million.
According to the parties, the new entity will rank among the top tier firms in the world in terms of market reach, product capability, and financial resources.
Bell Canada will assume a 65% controlling interest in MPACT Immedia, in exchange for Bell Emergis' EBS unit and $54 million in cash. The actual transaction is expected to close at the end of August.
Brian Edwards, the new President and CEO, said that the company's mission will be to offer network-centric telectronic business solutions that enable and improve customer processes by digitizing information and transactions.
"With this transaction, we will become one of the largest electronic commerce companies in Canada and around the world," said Edwards.
The new company will be headquartered in Montreal, with offices in Toronto and Ottawa, as well as Livonia, Michigan in the U.S.