Yahoo Finance BCE Expands Cloud Solutions Portfolio With FX Innovation Buyout
BCE Inc BCE announced that it has successfully completed the acquisition of a Montréal-based company — FX Innovation — specializing in cloud-focused managed and professional services, as well as workflow automation solutions.
The acquisition was announced in May and aims to combine the agility, start-up culture, and extensive cloud services expertise of FX Innovation with Bell's advanced fiber and 5G networks and resources. This strategic move will enable the delivery of cutting-edge technology solutions for Canadian businesses to assist them in achieving their digital transformation goals through integrated multi-cloud solutions.
This collaboration will aid both companies to scale their businesses and drive service growth while delivering enhanced value to their clients.
BCE, Inc. Price and Consensus
BCE, Inc. price-consensus-chart | BCE, Inc. Quote
BCE provides wireless service, data communications, telephone and high-speed Internet to small and medium-sized businesses. The company continues to invest heavily in pure fiber and 5G network to support Canada’s economic recovery. Strategic buyouts are aiding the company’s efforts.
In September 2022, Bell announced a strategic acquisition of an independent communications provider — Distributel. With Distributel’s acquisition, BCE plans to expand its reach in the Canadian markets by providing resilient network connectivity from coast to coast.
Prior to that, it acquired EBOX, an Internet, telephone and television service provider. Synergies from the recent acquisition of EBOX and Distributel support the company’s Internet growth strategy.
In 2022, BCE expanded its fiber network to nearly 854,000 locations across Canada. The company plans to invest $4.8 billion to expand its fiber network by adding 650,000 new locations in 2023. In the first quarter, the company spent about $1.1 billion to meet its 2023 objectives.
BCE’s 5G network now serves more than 82% of the population. The company plans to tap 85% of Canada’s population by 2023, enabling standalone 5G+ service to about 50% of Canada’s population. The move has been undertaken to effectively address the growing usage of critical network infrastructure among the people of Canada.
BCE currently has a Zacks Rank #3 (Hold). Shares of the company have lost 16.6% in the past year compared with the sub-industry’s decline of 15.2%.
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Stocks to Consider
Some better-ranked stocks in the broader technology space are Dropbox DBX, Badger Meter BMI and Blackbaud BLKB. Dropbox and Badger Meter presently sport a Zacks Rank #1 (Strong Buy), whereas Blackbaud currently holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%.
Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have gained 7.5% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have surged 75% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has increased 9.3% in the past 60 days to $3.75 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of the company have jumped 13.4% in the past year.
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