Mr. John Watson reports

BELL TO ACQUIRE CLOUD-SERVICES LEADER FX INNOVATION TO ACCELERATE THE DIGITAL TRANSFORMATION OF CANADIAN BUSINESSES

BCE Inc.'s Bell has entered into an agreement to acquire FX Innovation, a Montreal-based provider of cloud-focused managed and professional services and workflow automation solutions for business clients.

This agreement leverages the strengths of the two companies to help businesses realize their digital transformation ambitions with integrated multicloud solutions. FX Innovation's expertise in cloud managed and professional services, combined with Bell's national scale, resources, and world-class fibre and 5G networks, will deliver end-to-end solutions to help enterprises innovate and grow their business. Together, this agreement will enable both Bell and FX Innovation to scale their businesses, driving services growth while delivering even greater value for their clients.

"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," said John Watson, group president, business markets, customer experience and artificial intelligence, Bell.

FX Innovation is a leader in providing businesses with end-to-end multicloud services, information technology workflow automation solutions and cloud consulting services. It has deep expertise with ServiceNow, integrating the application within business environments in Canada and internationally. In addition, FX Innovation offers bilingual services for customers to manage their public and hybrid cloud environments with the world's most capable cloud providers, including Amazon Web Services (AWS), Google Cloud and Microsoft Azure. Like Bell, FX Innovation is headquartered in Montreal, Que., and is a strong supporter of technical skills development in Canada.

"We are very excited about this important announcement, and to partner with a fellow Quebec-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," said Guillaume Bazinet, co-founder and chief executive officer, FX Innovation.

"CDPQ has supported Montreal-based FX Innovation on its strategic expansion plan since 2018, allowing the company to generate growth and refine its service offering. The transaction announced today will enable FX Innovation to continue growing alongside a local player that has the necessary resources and desire to take the company even further," said Kim Thomassin, executive vice-president and head of Quebec, CDPQ.

Upon the acquisition close, FX Innovation will continue to operate independently under the leadership of the 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.

About Bell

Bell is Canada's largest communications company, providing advanced broadband wireless, TV, Internet, media and business communication services throughout the country. Founded in Montreal in 1880, Bell is wholly owned by BCE.

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