HALIFAX – Bell Aliant has sold its Xwave information technology division to Bell Canada in a deal valued at $40 million.
Tuesday’s announcement said that with xwave now part of a national organization, its customers can access a broader slate of national technology and professional services provided through the Bell Business Markets division.
“We believe the time and opportunity is right for this transaction and by divesting xwave now, Bell Aliant is able to further focus on our core priorities such as fibre-to-the-home, improve our balance sheet and ensure long-term value to our investors," said president and CEO, Karen Sheriff, in the announcement. "We have known for some time that for xwave to continue to expand nationally and grow profitability they needed access to scale. Combining with Bell gives xwave access to a national market and additional IT capabilities they do not have today."
xwave has operated as part of Bell Aliant and its predecessor companies for a number of years with particular focus on advanced technology solutions and IT professional services, including the provision of e-health solutions.
The companies vowed to work together to ensure a seamless transition for employees, partners and customers. The transaction is expected to close on January 1, 2011.
