Canadian electronic commerce specialist Mpact Immedia Inc has entered into merger agreements with Bell Canada Ltd’s Bell Emergis Electronic Business Solutions unit. Under the agreement, Bell Canada will take a 65% controlling interest in Montreal, Quebec-based Mpact, in exchange for the EBS unit and a cash investment of $54m. Bell Canada has an option to repurchase certain contracts relating to internet access services, which may be taken up for a year following the closing of the transaction. Mpact is holding a meeting for its shareholders on August 31, and if the agreement is approved, plans to close the deal on the same day.
