MONTRÉAL, June 20, 2016 /CNW
Telbec/ - Caisse de dépôt et placement du Québec announced a
further investment of $14.3 million
in Stingray, a leading Québec business-to-business multi-platform
music and in-store multimedia solutions provider, through the
acquisition of 2,000,000 subordinate voting shares.
The transaction is part of a repurchase of a portion of the
shares held by Telesystem Ltd. as announced earlier today by
Telesystem.
"As a long-term investor in high-performing companies, it was a
natural choice for us to increase our stake in this Québec leader.
Stingray already has a strong reputation through its global
footprint and demonstrates significant growth potential. This
transaction is perfectly aligned with our goal to strengthen
innovative companies aiming to expand into new markets," said
Christian Dubé, Executive Vice-President, Québec at la Caisse.
"We are very pleased and proud of the investment by Caisse de
dépôt et placement du Québec. La Caisse plays an active role with
Québec companies, paving the way for a new generation of
entrepreneurs and furthering the development of high-growth
businesses in Québec," said Eric
Boyko, Chief Executive Officer and Co-Founder of
Stingray.
ABOUT STINGRAY
Stingray (TSX: RAY.A; RAY.B) is a leading business-to-business
multi-platform music and in-store media solutions provider
operating on a global scale, reaching an estimated 400 million
Pay-TV subscribers (or households) in 152 countries. Geared towards
individuals and businesses alike, Stingray's products include the
following leading digital music and video services: Stingray Music,
Stingray Concerts, Stingray Brava, Stingray Djazz, Stingray Music
Videos, Stingray Lite TV, Stingray Ambiance, Stingray Karaoke and
iConcerts. Stingray also offers various business solutions,
including music and digital display-based solutions, through its
Stingray Business division. Stingray is headquartered in
Montreal and currently has close
to 300 employees worldwide, including in the United States, the United Kingdom, the
Netherlands, Switzerland,
France, Israel, Australia and South
Korea. Stingray was recognized in 2013 and 2014 as a
finalist in the Top 50 of Deloitte's Technology Fast 50TM list, and
figures amongst PROFIT magazine's fastest-growing Canadian
companies. In 2016, Stingray was awarded best IR for an IPO at the
IR Magazine Awards - Canada. For
more information, please visit www.stingray.com
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, 2015, it
held $248.0 billion in net assets. As
one of Canada's leading
institutional fund managers, CDPQ invests globally in major
financial markets, private equity, infrastructure and real estate.
For more information, visit cdpq.com, follow us on Twitter @LaCDPQ
or consult our Facebook or LinkedIn pages.
SOURCE Caisse de dépôt et placement du Québec