Toronto, Ont.-based Bluebeam software is closing its acquisition of BMO Software for $9.1 billion, the company announced Friday.
The deal includes BMO’s headquarters in Ottawa and BMO Mobile headquarters in Winnipeg, where the company plans to expand its mobile phone and internet offerings.
The purchase, which is subject to customary closing conditions, also includes the BMO Group’s portfolio of patents.
The company also expects to acquire the assets of its parent company BMO Health Systems Inc. and the Bluebeam Mobile division of Bluebeam Group Inc.
The combined company will remain a wholly-owned subsidiary of BMA Group Inc., which is a wholly owned subsidiary of the company.
“The acquisition of the BMA and Bluebeam businesses will further strengthen our leadership in the wireless, health care and online markets,” CEO Steve McConchie said in a statement.
“Our team of engineers, business leaders and innovative leaders will continue to create world-class products and services for consumers, businesses and governments.
This combination will help us build a stronger, better company with more of what we know, and more of the world we want.”
The deal is subject, among other things, to customary conditions of closing, including a commitment to pay $50-million to BMO for each of the three-year terms, and a reduction in cash, as well as an agreement to provide the company with a minimum of $100 million in cash and $500 million in stock for each year of the transaction.
The companies’ combined businesses will continue their operations in the United States and Canada.
The merger will be completed on April 28, 2021, the statement said.
Shares in BMO and Bluebeams were up 2.7 per cent at $26.80.