Richter > Press release | Richter acts as Advisor in the Acquisition of Openface Inc.

Press release | Richter acts as Advisor in the Acquisition of Openface Inc.

February 2020

Richter Advisory Group Inc. is pleased to have assisted Openface Inc. (Openface) in its sale to Beanfield Technologies Inc. (Beanfield). Beanfield is a telecommunications infrastructure provider and operates the largest independent fiber optic network in Toronto. With this sale, Beanfield will benefit from the diverse customer base and solid reputation Openface has built in the Montreal area since its founding in 1996.

Richter was retained by Openface to explore strategic options, including a sale of its business as part of its transition plan. Leveraging experience in transactions and strategic decisions that help protect business value and maximize investments, Richter identified synergies and customized the acquisition plan for the seller.

Along with the help from many professionals, this transaction was led by Richter’s Alon Wexler and Ian Weinstein.