(September 27 – 10:15 ET) – Bell Canada, CIBC, Scotiabank, Mouvement des caisses Desjardins and BCE Emergis are joining forces to create one of Canada’s largest business-to-business electronic marketplaces.

The companies are teaming up to launch a new e-procurement company, Procuron Inc., which will use combined purchasing volumes, strategic sourcing and e-commerce expertise, to benefit business buyers. Procuron will also provide e-procurement services directly to other large Canadian companies and to emerging vertical B2B exchanges.

Procuron will be an independent entity that operates separately from the partners and has its own sales force. It is expected to begin operations later this year. It can be found on the Web at www.procuron.com.

Through Procuron, buyers will be able to place and track orders with a range of suppliers. Buyers will gain access to the online marketplace through a number of channels, including the Internet portals of Bell, CIBC, Scotia and Desjardins. Procuron will also have a direct sales force targeted to the needs of larger companies, who will be able to access the Procuron marketplace directly. In the near future, Procuron will be seeking alliances with vertical exchanges.

In the first year, Bell, CIBC, Scotia and Desjardins anticipate total combined spending of approximately $1 billion through Procuron. These four firms combined serve more than half of Canadian businesses, and believe this new procurement alternative will provide an important value-added service to their customers and other Canadian companies. BCE Emergis will provide, manage and operate the technology infrastructure.

As part of the transaction, BCE Emergis will issue unspecified performance-based warrants to the other shareholders of Procuron, subject to regulatory approval.

“Procuron will revolutionize Canada’s e-commerce landscape,” said Steve McKeown, president and CEO of Procuron. “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.”

Jill Denham, managing director CIBC.com, said, “We are pleased to be part of this exciting initiative, which is another step in our ongoing effort to introduce important e-commerce services to our customers.”

Albert Wahbe, CEO of e-Scotia, and Scotiabank’s executive vice president of Electronic Banking. “At the same time, this initiative is a natural fit with Scotiabank’s commitment to boost e-commerce in Canada.”

TD Bank has been praised by analysts for the B2B marketplace it introduced earlier this year.