Montréal, June 1st 2011 - The Fonds de solidarité FTQ (“Fonds”) recently purchased 1,000,000 shares of Miranda Technologies Inc. on the secondary market, bringing its stake to approximately 11.07%. A worldwide provider of infrastructure, playout and monitoring systems for the broadcasting industry, Miranda Technologies is a market leader headquartered in Montréal, where it employs approximately 360 people.
“We are proud to become a key shareholder in Miranda Technologies, a company with an excellent growth outlook. Its management team demonstrates strong leadership with an ambitious but realistic business plan that revolves around acquisitions. This strategy has served the company well, resulting in the acquisition of VertigoXmedia in 2006, NVision in 2008 and most recently, Omnibus in 2010. These additions were successfully integrated into Miranda Technologies’ operations and enabled the company to begin a shift to IT solutions, a rapidly changing market,” said Janie Béïque, Senior Vice-President, New Economy, at the Fonds de solidarité FTQ.
“Our goal is to become the preferred partner of Québec businesses that are leaders in their markets, and that’s why we invested in Miranda Technologies. With over $1.3 billion of investments in IT and telecommunications to date, the Fonds continues to back Québec companies in these industries,” concluded Ms. Béïque.
Founded in 1989, Miranda Technologies serves the entire TV broadcasting chain: content creators (production and post-production companies), networks and specialty channels, as well as television service providers, now including cable, satellite and IPTV operators. Its Montréal head office concentrates on R&D and equipment manufacturing. The company also has business offices in the U.S., France, the U.K. and Asia.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $7.7 billion as at November 30, 2010, the Fund is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 2,052 companies. With its 577,511 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect 150,133 jobs. For more information, visit www.fondsftq.com.
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