Caisse de dépôt et placement du Québec has invested $10 million in the share capital of FX Innovation, a Montréal-based provider of information technology consulting services and solutions. The funds raised will support FX Innovation’s strategy to expand its activities in cloud services and other fields, and make acquisitions in Canada and the United States. The company will also invest in developing solutions for automating IT management. Established in 2002 and led by President and CEO David Marotte, FX Innovation has so far completed more than 3,500 projects.
PRESS RELEASE
La Caisse invests $10 million in FX Innovation, a Québec leader in IT
MONTRÉAL, March 20, 2018 /CNW Telbec/ – 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 or follow us on Facebook or 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 $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, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
For further information: JEAN-BENOÎT HOUDE, Senior Advisor, Media and Public Relations, Caisse de dépôt et placement du Québec, +1 514 8475493, jbhoude@cdpq.com ; MÉLANIE MCCLURE, Leader, Personnes & Culture, FX INNOVATION, 514 525-5777, melanie.mcclure@fxinnovation.com
Photo courtesy of FX Innovation
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