Procuron Inc., the business-to-business (B2B) exchange formed by Bell Canada, CIBC, Scotiabank, Mouvement des caisses Desjardins and BCE Emergis, launched full commercial operations on April 3, 2001. Procuron, which provides Canadian businesses of all sizes with Internet access to a variety of products and services from its portals at procuron.com, is expected to become one of the largest B2B e-marketplaces in the country. By the end of 2001, Procuron anticipates $1 billion worth of transactions.
Procuron will provide founding shareholders, Bell, CIBC, Scotiabank and Desjardins their business customers and other Canadian business with great deals due to Procuron’s procurement expertise, electronic B2B systems and the combined purchase volumes of its founding shareholders. BCE Emergis provides Procuron with the exchange technology, infrastructure and IT services that underlie its marketplace and B2B portals.
Procuron was incorporated, funded and entered into key technology, services and customer agreements with the assistance of the Toronto office of Davies Ward Phillips & Vineberg LLP. The Davies team was headed up by Richard Corley, with the assistance of Robert Percival and Duncan Card (information technology and e-commerce), Mark Connelly (corporate/commercial), Claire Kennedy (tax) and Lori Cornwall (competition).
Bell Canada was represented by internal counsel Kevin Derbyshire, Lisa Balaban and Rosemary Klein of the Donahue Ernst & Young LLP Emerging Technologies & E-commerce team. The CIBC legal team was comprised of in-house counsel Danielle Sung, Kimberley McVittie and Thomas Onyshko. Scotiabank in-house counsel Anita Mackey and Janet Carter led the Scotiabank team with assistance from external counsel Sharon Pel, Wendy Gross and Nicole Rosenberg of Torys. Marc Beauchemin of Desjardins Ducharme Stein Monast acted for Desjardins. BCE Emergis was represented by in-house counsel John Sypnowich, with the assistance of Martin Langlois of Stikeman Elliott.