BCE to buy full ownership of Q9 Networks from its partners for $675 million

MONTREAL – BCE Inc. (TSX:BCE) says it will spend about $675 million to buy out other members of a consortium that owns Q9 Networks, a Canadian data centre operator.

The Montreal-based parent of Bell Canada, CTV television and other companies currently owns about 35.4 per cent of Q9.

The other equity partners include the Ontario Teachers Pension Plan and two U.S.-based firms: Providence Equity Partners and Madison Dearborn Partners.

The four partners teamed up four years ago to buy Q9 in a deal valued at $1.1 billion at the time, including assumed debt.

BCE’s portion of the purchase price was $180 million while the others paid a total of $420 million for their equity stake.

Bell Canada already owned six data centres and Q9 Networks owned 11 when the consortium announced their purchase in June 2012.