$50 million injected from BCE for BCE Emergis Growth purposes...
ie acquisitions! Also implied at the meeting "in the US". Growth will be sought in the US not europe.
Note in text by BCE Monty:
>>We're committed to helping this dynamic company grow on both a domestic and international scale.
Thursday January 21, 8:20 am Eastern Time
FULL TEXT-MPACT sells stake to BCE unit
(Full text of press release from ISDN Wire Service)
BELL CANADA INJECTS 8.9 MILLION IN BELL EMERGIS/MPACT IMMEDIA
- BCE STRENGTHENS ITS COMMITMENT
MONTREAL, Jan 21 - MPACT Immedia Corporation announced today that it has issued 4,526,628 common shares from treasury to a wholly-owned subsidiary of Bell Canada for total proceeds of $48.9 million. ''BCE, through Bell Canada, is strategically investing in areas with high growth potential,'' said Jean Monty, Chairman and Chief Executive Officer of Bell Canada and President and Chief Executive Officer of BCE. ''MPACT Immedia is one of the leading companies in North America in developing electronic commerce solutions over the Internet and is breaking new ground in this emerging business sector within the telecommunications industry. We're committed to helping this dynamic company grow on both a domestic and international scale.'' This sale is pursuant to a preemptive right granted to Bell Canada as part of the August 31, 1998 transaction whereby Bell Canada acquired a 65% interest in MPACT Immedia, in exchange for cash and certain assets of Bell Emergis' Electronic Business Solutions division. Bell Canada's preemptive right was triggered by the issuance by MPACT Immedia on December 14, 1998 of securities for the acquisition of certain assets of Newstar Technologies Inc. After giving effect to the transaction, Bell Canada holds 68.4% of the issued and outstanding common share of MPACT Immedia (63% on a fully-diluted basis) ''Through this transaction, BCE is clearly strengthening its commitment in Bell Emergis/MPACT Immedia'', said Brian Edwards, President and Chief Executive Officer, Bell Emergis/MPACT Immedia. ''We are very pleased to be provided with additional support and capital, which will be used for strategic acquisitions.'' MPACT Immedia Corporation delivers network-centric electronic commerce solutions that improve customer processes. Its complete e-commerce business solutions enable organizations to better compete in the global marketplace. Following its recently concluded merger with the Electronic Business Solutions (EBS) unit of Bell Emergis, the combined entity, a subsidiary of Bell Canada, is one of the top tier electronic commerce providers in the world. For more information, please refer to mpactimmedia.com or bell.ca. Bell Canada, the largest Canadian telecommunications operating company, markets a full range of state-of-the-art products and services to more than seven million business and residence customers in Ontario and Quebec. Bell Canada's Internet Web site is located at: bell.ca For more information: Anne Belliveau General Manager, Corporate Communications Bell Emergis/MPACT Immedia (514) 397-8535 Email: abelliveau@emergis.com Jean-Charles Robillard Associate Director, Communications BCE Inc. and Bell Canada (514) 786-3908 Email: jeancharles.robillard@bell.ca MPACT Immedia Corporation announced today that it has issued 4,526,628 common shares from treasury to a wholly-owned subsidiary of Bell Canada for total proceeds of $48.9 million. ''BCE, through Bell Canada, is strategically investing in areas with high growth potential,'' said Jean Monty, Chairman and Chief Executive Officer of Bell Canada and President and Chief Executive Officer of BCE. ''MPACT Immedia is one of the leading companies in North America in developing electronic commerce solutions over the Internet and is breaking new ground in this emerging business sector within the telecommunications industry.We're committed to helping this dynamic company grow on both a domestic and international scale.'' This sale is pursuant to a preemptive right granted to Bell Canada as part of the August 31, 1998 transaction whereby Bell Canada acquired a 65% interest in MPACT Immedia, in exchange for cash and certain assets of Bell Emergis' Electronic Business Solutions division. Bell Canada's preemptive right was triggered by the issuance by MPACT Immedia on December 14, 1998 of securities for the acquisition of certain assets of Newstar Technologies Inc. After giving effect to the transaction, Bell Canada holds 68.4% of the issued and outstanding common share of MPACT Immedia (63% on a fully-diluted basis) ''Through this transaction, BCE is clearly strengthening its commitment in Bell Emergis/MPACT Immedia'', said Brian Edwards, President and Chief Executive Officer, Bell Emergis/MPACT Immedia. ''We are very pleased to be provided with additional support and capital, which will be used for strategic acquisitions.'' MPACT Immedia Corporation delivers network-centric electronic commerce solutions that improve customer processes. Its complete e-commerce business solutions enable organizations to better compete in the global marketplace. Following its recently concluded merger with the Electronic Business Solutions (EBS) unit of Bell Emergis, the combined entity, a subsidiary of Bell Canada, is one of the top tier electronic commerce providers in the world. For more information, please refer to mpactimmedia.com or bell.ca. Bell Canada, the largest Canadian telecommunications operating company, markets a full range of state-of-the-art products and services to more than seven million business and residence customers in Ontario and Quebec. Bell Canada's Internet Web site is located at: bell.ca For more information: Anne Belliveau General Manager, Corporate Communications Bell Emergis/MPACT Immedia (514) 397-8535 Email: abelliveau@emergis.com Jean-Charles Robillard Associate Director, Communications BCE Inc. and Bell Canada (514) 786-3908 Email: jeancharles.robillard@bell.ca
More Quotes and News: Mpact Immedia Corp (Toronto:IFM.TO - news) |
