Hey there, time traveller!
This article was published 12/1/2010 (3600 days ago), so information in it may no longer be current.
Dean Provost, president of MTS's Allstream division, said the sale was a sensible, tactical thing to do and did not really have any larger strategic rationale.
The business employs about 180 people with offices across the country and a few in Europe and overseas and generates about $50 million in revenue. (The company's Winnipeg IT office is not part of the deal.)
"It was not a core business," said Prevost, whose division has total revenue of about $1 billion and 5,000 employees. "It was not so much we were looking for a sale. PwC is a friend of the firm and they are starting to build more significant presence in the space."
The deal also involves the creation of an alliance between MTS Allstream and PwC whereby PwC customers looking for communications solutions services will be referred to MTS Allstream and MTS Allstream customers who require the support of a non-telecom IT consulting group will be referred to PwC.
Bill McFarland, a national managing partner at PwC Canada, said the deal provides a boost for his Toronto-based business consulting and accounting services company.
"This acquisition immediately enhances our ability in the marketplace to provide an expanded base of clients with full-service value, from strategy through to implementation," he said.
Prevost said the deal is a bit like getting to have his cake and eating it, too.
"It is a real positive in the ongoing alliance," said Prevost. "It is great for our customers and great for employees and I feel like we are not losing it. We still have access to it with our partnership with PwC."
Financial terms of the deal, effective Feb. 1, were not revealed.