Total
0
Shares
BCE Inc - President and CEO, Mirko Bibic - The Market Herald Canada
President and CEO, Mirko Bibic
Source: La Presse
  • Cananda's largest communications company, BCE (TSX:BCE) is selling 25 data centres to Equinix Inc, in an all-cash deal valued at C$1.04 billion
  • Through the acquisition, Equinix will also acquire that 13 sites that house the data centres
  • Once the deal finalises, BCE will continue to operate its five remaining data centres, located in Calgary, Halifax, Saint John, and Toronto
  • Pending regulatory approval, the two companies expect the sale to close sometime in the second half of 2020
  • BCE Inc (BCE) is down 0.28 per cent and is trading at $57.07 at 1:59pm EDT

Cananda's largest communications company, BCE (TSX:BCE) is selling 25 data centres to Equinix Inc, in an all-cash deal valued at C$1.04 billion.

Through the acquisition, Equinix will also acquire 13 sites, which house the data centres and were previously owned by BCE.

Once the deal finalises, BCE will continue to operate its five remaining data centres, located in Calgary, Halifax, Saint John, and Toronto.

Mirko Bibic, President and CEO of BCE, believes Equinix is the right company to progress the data centres moving forward.

"Equinix, with its expanding platform of data centres here in Canada and worldwide, is well-positioned to maximize the opportunities these facilities represent for Canadian businesses in an increasingly global and interconnected data sector.

“This transaction reinforces BCE’s strategy to focus investment on the network infrastructure, content and services necessary to advance how Canadians connect with each other and the world," he said.

Mirko went on to say that the sale underscores BCE's commitment to customer experience as Canada begins to recover from the COVID-19 pandemic.

Pending regulatory approval, the two companies expect the sale to close sometime in the second half of 2020.

In tandem with the sale, Equinix has named BCE's Bell Business Markets as its first Plantium Partner in Canada. Through the designation, Bell Business Markets will gain access to Equinix’s internationally integrated network and cloud storage solutions.

Tom Little, President of Bell Business Markets, said he looks forward to working with Equinix and ensuring Canada remains a world leader in digital technologies.

BCE Inc (BCE) is down 0.28 per cent and is trading at $57.07 at 1:59pm EDT.


Subscribe


More From The Market Herald
Rogers Communication Inc. - President & CEO, Joe Natale - The Market Herald Canada

" Rogers Communications (TSX:RCI.A) pledges $3B investment in Quebec

Rogers Communications (RCI.A) has unveiled its plans for a C$3 billion investment in Quebec should its bid to acquire Cogeco go through.
CGI Inc. - Executive Chairman, Serge Godin - The Market Herald Canada

" CGI (TSX:GIB.A) extends contract with City of Edinburgh Council to 2029

IT and business consulting services company CGI (GIB.A) has signed a six-year extension to its contract with the City of Edinburgh Council.
Cogeco Inc (TSX:CGO) - Executive Chairman, Louis Audet - The Market Herald Canada

" Louis Audet declares “definitive” rejection of Cogeco (TSX:CGO) takeover bid

Cogeco’s (CGO) Executive Chairman, Louis Audet, has steadfastly rejected the proposed takeover from Altice USA and Rogers Communications.
Rogers Communications - President and CEO, Joe Natale - The Market Herald Canada

" Rogers Communications (TSX:RCI.A) reaffirms bid to acquire Cogeco’s Canadian assets

Despite a firm dismissal from Cogeco’s controlling shareholders, Rogers Communications (RCI.A) isn’t backing down from its proposed takeover.