Two of Canada's big six banks combined with two units of BCE and Mouvement des caisses Desjardins to form a giant online marketplace.
Scotiabank, CIBC, Desjardins, Bell Canada and BCE Emergis have joined forces to create a giant online business-to-business (B2B) portal which will be called Procuron Inc.
In a statement, the companies said the portal "will use combined purchasing volumes, along with its world-class strategic sourcing and e-commerce expertise, to benefit the Canadian business community."
The new company will be a source for all Canadian companies to purchase and sell products and services more efficiently, the companies say.
"Procuron will revolutionize Canada's e-commerce landscape," said Steve McKeown, president and CEO of the new company. "By combining the spending of the four companies and making the best use of their existing channels, we can offer savings and comprehensive e-procurement and e-commerce services for business customers."
In Canada, it is estimated that the electronic B2B market will generate an estimated $218 billion in transactions in the next five years.
