Caisse de dépôt et placement du Québec (CDPQ) has invested $10 million for an undisclosed minority stake in FX Innovation.
Caisse de dépôt et placement du Québec joined [mepr-active rule=”374″ ifallowed=”hide”]#SUBSCRIBERS ONLY CONTENT Where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. See what you have been missing and be informed!#[/mepr-active][mepr-active rule=”374″]David Marotte (President & CEO, Director), and Georges Riachy (VP, Client Relations & Director) as the third largest shareholder. The financing closed in February and Yvon Roy, Director of Investments for CDPQ, has joined FX board.[/mepr-active]
News funding will help FX Innovation to pursue growth strategy through acquisition and expansion of its activities.
Founded in 2002, Montreal based FX Innovation has extensive expertise in infrastructure, cloud computing and developing and integrating software. FX Innovation employs over 535 professionals working for clients in Québec and Ontario, as well in Boston and New York.
photo credit: FX Innovation
News Release
La Caisse invests $10 million in FX Innovation, a Québec leader in IT
PRIVATE EQUITY
MONTRÉAL, MARCH 20, 2018
La Caisse de dépôt et placement du Québec (“la Caisse”) announced a $10 million investment in share capital of FX Innovation, a Québec leader in IT consulting services and solutions.
This transaction will make it possible for FX Innovation to pursue a growth plan focused on expanding its activities and making acquisitions in North America. The Montréal-based company will also invest in developing innovative solutions for automating IT management.
With the gaining importance of digital transformation, the IT sector has strong growth potential, particularly in the area of cloud services. FX Innovation has one of the largest centres of expertise for cloud services in Montréal.
“This investment aligns with our interest in companies that promote, through their services and products, digital transformation of businesses,” stated Christian Dubé, Executive Vice-president, Québec, at la Caisse. “With innovative and exportable solutions and its experienced management team, FX Innovation is well positioned to continue growing here and in new markets.”
“We are very happy to collaborate with la Caisse de dépôt et placement du Québec, a long-term investor whose interests and value match our own,” explained David Marotte, President and Chief Executive Officer of FX Innovation. “Since our creation, we have enjoyed continuous organic growth. With la Caisse by our side, and its network and expertise in acquisitions, we can expand across Canada and the U.S.”
ABOUT FX INNOVATION
Founded in 2002, FX Innovation has extensive expertise in infrastructure, cloud computing and developing and integrating software. With over 3,500 mandates completed, FX Innovation employs over 535 professionals working for clients in Québec and Ontario, as well as in Boston and New York, in the U.S. Having received many prizes, including the Desjardins Entrepreneur Award for company of the year in the “Innovation and Productivity” category, and been a finalist at the Mercuriades awards and for the E&Y Entrepreneur of the year award, FX Innovation is now one of the major players in the IT industry. For more information on FX Innovation, visit the website at www.fxinnovation.com ou suivez-nous sur Facebook ou LinkedIn.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2017, it held CAD 298.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com/en, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
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For more information
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