With this move, GFI Solutions Group doubles its sales and its resources
MONTREAL, Aug. 5 /CNW Telbec/ - GFI Solutions Group Inc., a Québec-based
leader in the field of IT services for business, announced today that its
subsidiary, GFI Conseils Inc., has completed, on July 31, 2008, the
acquisition of Bell Business Solutions Inc, a subsidiary of Bell Canada that
offers a full range of Enterprise Resource Planning (ERP) solutions for Small
and Medium Enterprises (SMEs) in the private and public sectors. These
business solutions complement those that are already provided by GFI in these
sectors. GFI completed the transaction with the financial participation of the
Solidarity Fund QFL.
Bell Business Solutions, now operating under the name GFI Business
Solutions Inc., employs more than 350 IT professionals, and reports annual
revenues of approximately $CAN 40 M. As a result of this transaction, sales
for GFI in Canada will grow to more than $CAN 80 M annually, with activities
throughout Québec, Ontario, and Manitoba. This acquisition also propels the
Company into the ranks of the largest IT consulting firms in Canada.
GFI Solutions Group increases its offer to cover new territories and
With this acquisition, GFI extends its services to include all companies
in the public and private sectors across Canada for applications intended for
the municipal sector, the health industry, and the manufacturing,
distribution, and printing industries.
According to Gilles Létourneau, President and Chief Executive Officer of
GFI Solutions Group: "The acquisition of Bell Business Solutions is a natural
extension of our global growth strategy, enhancing our offer in order to meet
the overall needs of Canadian businesses. In addition to consolidating our
presence across Canada in the business solutions market for companies, we
anticipate significant potential for cross-selling of our consulting services
in the various target sectors."
According to Janie Béique, Senior Vice-President, New Economy for the
Solidarity Fund QFL: "The Solidarity Fund QFL is pleased to be part of the
growth of GFI. With this acquisition, GFI has enhanced its competitiveness,
expanded the scope of its activities across Canada, and optimized its offer of
IT solutions for businesses. This is a significant transaction that positions
GFI among the leaders in this sector. The Fund is also pleased to continue in
its role as a key investor in the IT and telecommunications sector, by
providing financial support to growing companies as they secure their place
within this competitive market."
Thanks to the combination of diversified and complementary expertises,
current customers of GFI and Bell Business Solutions will also benefit from
this transaction. Infrastructure services are not included in this
transaction, and remain in the hands of Bell Canada.
The integration process involving work teams and areas of expertise will
Based in Montreal, GFI Solutions Group Inc. is one of Canada's leading IT
consulting firms. Its services include management consulting, application
development, integration of systems and applications, outsourcing, and
technical writing. GFI Solutions Group also operates three business units in
the areas of travel, banking, and management consulting services.
Now backed by nearly 750 professionals, GFI is one of the largest IT
consulting firms in Québec, and is a member of the GFI Informatique group, an
international organization with more than 9,500 collaborators worldwide and
revenues in excess of CAN$ 1 billion. For more information concerning GFI,
please visit www.gfisolutions.com.
Bell is Canada's largest telecommunications company, providing consumers
with solutions to all of their communications needs, including telephone
services, wireless communications, high-speed Internet, digital television and
Voice Over IP. Bell also offers integrated information and communications
technology (ICT) services to businesses and governments, and is the Virtual
Chief Information Officer (VCIO) for Small and Medium Enterprises. Bell is
proud to be a Premier National Partner and the exclusive Telecommunications
Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. Bell is
wholly owned by BCE Inc. For information concerning Bell's products and
services, please visit www.bell.ca. For corporate information concerning BCE,
please visit www.bce.ca.
About the Solidarity Fund QFL
With net assets of $7.3 billion as at May 31, 2008, the Solidarity Fund
QFL is a development capital company that through its RRSP channels the
savings of Quebecers into investments in all sectors of the economy to help
create and maintain jobs and to further Québec's economic growth. The Fund is
a partner, either directly or through its network members, in 1,881 companies.
It currently has more than 575,000 shareholders and has helped, on its own or
with other financial partners, to create, maintain and protect over
126,000 jobs. For more information, visit www.fondsftq.com.
For further information:
For further information: Patricia Archambault, Simard Hamel
Communications, (514) 287-9811, extension 23, (514) 710-1044 (mobile),
firstname.lastname@example.org; Brett Lush, GFI Solutions Group, (514) 288-7161,
extension 413, Brett.Lush@gfisolutions.com; Jacques Bouchard, Bell, (514)
391-2007, Toll-free: 1-877-391-2007, email@example.com; Mario
Tremblay, Solidarity Fund QFL, Vice-president, Public Affairs and
Communications, (514) 850-4892, firstname.lastname@example.org