Belanger urges government to prioritize Canadian workers and veterans over American companies. By Rosalind Russell - MP Jim Bélanger is calling on the federal government to prioritize Canadian businesses and workers after the Canada Revenue Agency awarded a security services contract to Allied Universal, a U.S.-based firm, over the Canadian Corps of Commissionaires. "For a difference of less than one per cent on a contract worth nearly $12 million, the government chose an American company over a Canadian organization with a long history of serving our country and supporting our veterans," says Bélanger. The Canadian Corps of Commissionaires is the largest non-governmental employer of Canadian veterans and has provided meaningful employment opportunities to former members of the Canadian Armed Forces and RCMP for decades, including an active office in Sudbury. Bélanger says when qualified Canadian organizations are available and competitive, they should be given every consideration adding that Allied Universal maintains extensive business ties with the U.S. federal government. He explains through its subsidiaries, the company has reportedly secured approximately $83 million USD in contracts with U.S. Immigration and Customs Enforcement (ICE) and $290 million USD in contracts with the U.S. Department of Homeland Security in 2026 alone. The MP also pointed to concerns about the government's broader procurement record, noting reports that six of the ten highest-grossing federal contractors since Prime Minister Mark Carney took office are domiciled in the United States. He calls on the government to recognize Canadian tax dollars should work for Canadians. Photo - MP Jim Belanger addressing Queen's Park.

SoftBank eyes $18 Billion Allied Universal deal. Oct 17, 2026 Reading time: 3 min SoftBank in Early Talks to Acquire Allied Universal for Up to $18 Billion SoftBank Group Corp. is reportedly engaged in preliminary discussions to acquire Allied Universal, the largest security services provider in the United States. The potential transaction could see Allied Universal's equity valued at as much as $18 billion. The news was met with investor apprehension, as SoftBank's American Depositary Receipts (ADRs), trading under the ticker SFTBY, experienced a decline of approximately 9.5% to 10% following the report on October 16, 2026. Sources indicate that the negotiations are in their nascent stages, with no definitive decisions made regarding the price or structure of a potential deal. Representatives for both SoftBank and Allied Universal declined to comment on the ongoing discussions. Deal valuation and debt. The reported $18 billion equity valuation represents only a portion of the overall financial picture. Allied Universal also carries approximately $12 billion in publicly traded debt. When combined with the equity value, the total enterprise value of such a deal could approach $30 billion. Investor backing and business scope. Allied Universal is currently supported by significant investors, including the private equity firm Warburg Pincus and the Canadian pension fund manager La Caisse de dépôt et placement du Québec. Any acquisition would likely require their approval, although the sources did not disclose their positions on a potential sale. The company's operations encompass security staffing for corporate clients and events, and it is increasingly involved in providing support services for data centers. Strategic rationale for SoftBank. The reported motivation behind SoftBank's interest is a desire to integrate artificial intelligence and robotics into physical infrastructure and daily operations. Allied Universal's extensive workforce and broad network of sites present an ideal environment for testing and deploying such technologies. Acquiring Allied Universal would provide SoftBank with a direct customer base and a practical testing ground for its technological advancements. Rather than selling robots to security firms, SoftBank would become the security firm itself. The deployment of humanoid robots in these settings is considered a longer-term objective. SoftBank has made substantial investments in AI, which relies heavily on data centers. These facilities require robust physical security, a sector where Allied Universal already operates. Broader investment strategy. This potential acquisition aligns with SoftBank's recent pattern of significant AI-focused commitments, including a $30 billion investment in OpenAI. The company also previously acquired ABB's robotics business for $5.4 billion, bolstering its industrial robotics capabilities. Shareholder concerns. The sharp decline in SoftBank's ADRs suggests that shareholders are concerned about the scale and complexity of a potential Allied Universal deal. An enterprise value nearing $30 billion, coupled with the $30 billion commitment to OpenAI, raises questions about the concentration of capital in long-term, high-risk ventures. Furthermore, assuming approximately $12 billion in existing Allied Universal debt would increase leverage for a company already under scrutiny for its balance sheet. Business model considerations. The security services industry is characterized by low margins and labor intensity, requiring a distinct operational skill set compared to venture capital investing or AI research funding. Moving forward, key developments to monitor will include whether these discussions progress beyond the initial stage, the final price and structure of any agreement, and SoftBank's proposed financing strategy.