Canadian broadband and telecommunications company Bell has acquired FX Innovation, a Montréal-based managed and professional services and workflow automation solutions provider.
This is technology M&A deal number 139 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2022, 2021, and 2020 listed here.
Bell Acquires FX Innovation
Bell, founded in 1880, is headquartered in Montréal, Quebec, Canada. The company has 36,666 employees listed on LinkedIn. Bell’s areas of expertise include advanced broadband wireless, TV, internet, media and business communication services.
FX Innovation, founded in 2002, is based in Montréal, Quebec, Canada. The company has 326 employees listed on LinkedIn. FX Innovation’s areas of expertise include consulting services, cloud services, IT monitoring, NOC, ServiceNow, Microsoft Azure, Google, and AWS.
The acquisition will expand Bell’s expertise in the managed cloud and professional services space and give FX Innovation a larger geographic footprint, allowing both companies to scale their businesses. After the deal closes, FX Innovation will continue to operate independently under the leadership of current co-founder and CEO Guillaume Bazinet. The transaction is subject to regulatory approvals and is expected to close in the second or third quarter of 2023.
Bell Acquires FX Innovation: Executive Insights
John Watson, group president, business markets, customer experience & AI, Bell, commented:
“We’re genuinely excited that FX Innovation will join the Bell group of companies. This really is an instance where the result is greater than the sum of its parts. FX Innovation’s depth in cloud services will complement the strengths within Bell Business Market’s Advanced Products and Services team, and together, we will enable customers to accelerate their digital transformation through cloud adoption and management, backed by Canada’s best network.”
Guillaume Bazinet, co-founder and CEO, FX Innovation added:
“We are very excited about this important announcement, and to partner with a fellow Québec-based company to advance cloud services for organizations in Canada and beyond. By joining forces with Bell, we will accelerate our journey to become a global player, enable companies to realize their digital transformation initiatives, and ultimately generate a positive impact for our economy.”