MONTREAL — Bell Canada says it has has completed its $40-million acquisition of Xwave from its smaller sibling, Bell Aliant (TSX:BA).

The transaction is the latest in a number of asset swaps over the years between the two subsidiaries of Montreal-based BCE Inc. (TSX:BCE), the country’s largest telecom company.

In earlier transactions, Bell Aliant acquired some of Bell’s local wireline phone businesses in parts of Ontario and Quebec outside of the main urban centres and Bell acquired Aliant’s wireless business, an affiliate of Bell Mobility.

Xwave has operated as part of Bell Aliant and its predecessor companies for a number of years, focused on developing advanced technology solutions and IT professional services, including leading e-health solutions.

Bell says the transaction will provide Xwave with more opportunity to expand nationally.

The companies say they’ll work together to minimize the impact on employees, partners and customers.