Sale includes $600 million in service agreements with shareholders Quebecor and Beneva
MONTREAL and QUEBEC CITY — Quebecor today announced Alithya Group, a Montreal-based “digital transformation company”, has reached an agreement to purchase R3D Conseil, a private Quebec firm that specializes in digital solutions, of which Quebecor is a principal shareholder.
The purchase transaction, valued at $76 million, includes the signing of $600 million worth of service agreements through to 2031 with Quebecor and Beneva, one of R3D Conseil’s other principal shareholders, to support the two companies in their digital transformation projects.
“For Québecor, Alithya, as a Quebec digital transformation leader with international reach, is a logical choice for a long-term partner. Digital transformation services are in heavy demand in all sectors. Thanks to our ten-year partnership with Alithya, we will have guaranteed access to experts in the field to support us in our operations and technological evolution,” said Pierre Karl Péladeau, president and CEO of Quebecor, in a press release.
Following the closing of the transaction, Quebecor and Beneva (via its subsidiary La Capitale) will respectively hold about 11.9% and 11.9% of Alithya’s share capital and approximately 6.7% and 6.7% of the voting rights attached to Alithya’s issued and outstanding shares. When the transaction closes, Alithya will also enter into investor rights agreements with each of Quebecor and Beneva under which each of them will have the right to propose a nominee for election to Alithya’s board of directors.
Alithya Group has more than 2,200 professionals in Canada, the United States and Europe. With the acquisition, it will welcome to the company 600 Quebec-based professionals from R3D Conseil, who specialize in consulting and digital application development in the areas of insurance, finance, government services, healthcare and telecommunications.
In addition, Alithya says the acquisition will help the company create more than 350 new jobs in Quebec for digital transformation experts in the fields of insurance and telecommunications.
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