Acquisition of SuperPages Canada Completed; Todd Millar Appointed President of Leading Directories Publisher.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & BURNABY, B.C. -- Verizon Communications
Verizon Communications, Inc. Inc. (NYSE NYSE See: New York Stock Exchange :VZ) and Advertising Directory Solutions, a corporation formed by an affiliate of Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. to implement the acquisition of SuperPages Canada, today announced that the acquisition of the company has been completed. Verizon Communications announced the definitive agreement to sell its directory operations in Canada to Bain Capital for $1.54 billion U.S. ($1.985 billion CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ) on September 8, 2004. SuperPages Canada is the country's second-largest directories publisher with more than 125 titles and is the official TELUS TELUS Telemetric Universal Sensor directory publisher in Western Canada
Western Canada, commonly referred to as the West , where its directories enjoy strong market share positions and loyal customer relationships. Online directory operations, SuperPages.ca, are also included in the transaction. Pursuant to the terms of the transaction, the company will continue to use the SuperPages Canada, TELUS and SuperPages.ca brand names. SuperPages Canada will be operated by members of the existing management team that oversaw the business under Verizon's ownership, and Todd Millar, 41, has been appointed President. He previously served as the company's Vice President of Sales and Marketing. SuperPages Canada will continue to be headquartered in Burnaby, British Columbia “Burnaby” redirects here. For persons sharing this surname, see Burnaby (surname). Burnaby, British Columbia, Canada, is the city immediately east of Vancouver. . "We are pleased the acquisition is complete and look forward to building on our position as one of the industry's fastest growing directory publishers," said Millar. "The transition has been virtually seamless, and we are excited to partner with Bain Capital as we strengthen our franchise and enhance the growth prospects of SuperPages Canada. We are confident that our outstanding employees will continue to deliver the best value and products to our customers." About Verizon Communications Verizon Communications Inc. (NYSE:VZ) is one of the world's leading providers of communications services. With a diverse work force of approximately 208,000, Verizon has four business units: Domestic Telecom serves customers based in 29 states with wireline telecommunications services, including broadband, nationwide long-distance and other services. Verizon Wireless owns and operates the nation's most reliable wireless network, serving 42.1 million voice and data customers across the United States. Information Services See Information Systems. operates directory publishing businesses and provides electronic commerce services. International includes wireline and wireless operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com. About SuperPages Canada SuperPages Canada is the country's second-largest directories publisher with more than 125 titles, and is the incumbent publisher in Western Canada with dominant market share in British Columbia and Alberta, and strong competitive positions in most of the other markets in which it competes. The company offers comprehensive print directories under the SuperPages and TELUS brand names as well as an electronic directory under the SuperPages.ca brand name. The company is headquartered in Burnaby, British Columbia. About Bain Capital Bain Capital (www.baincapital.com) is a global private investment firm that manages several pools of capital including private equity, high-yield assets, mezzanine capital and public equity with more than $22 billion ($27 billion CDN) in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . The firm has strong experience in a variety of industries, including media, communications and information, and with "carve-out" transactions involving the purchase of non-core businesses or assets of corporations. Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in over 225 companies around the world, including SEAT, the Italian yellow pages publisher, Houghton Mifflin, Domino's Pizza, Loews Cineplex Entertainment and Ameritrade. The firm has also been an active and successful investor in Canada for many years through such investments as Sleep Country Canada Sleep Country Canada is a major mattress retailer in Canada, with 148 stores operating in British Columbia, Alberta, Manitoba, and Ontario. The company, Sleep Country Canada, was ranked one of the top 50 companies to work for in Canada by the Globe and Mail. , Shopper's Drug Mart and Bombardier Recreational Products. Headquartered in Boston, Bain Capital has offices in New York, London and Munich. |
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