Power play: Some facts and figures on Newfoundland-based utility company Fortis

ST. JOHN’S, N.L. – Newfoundland-based utility company Fortis Inc. announced a friendly US$11.3-billion deal to buy U.S. electric transmission company ITC on Tuesday. It’s just the latest acquisition south of the border for the company. Here are some things to know:

Founded: The company roots date back to 1885, when it was founded as the St. John’s Electric Company. That company eventually became Newfoundland Power Inc., the first wholly-owned subsidiary of Fortis. Fortis became the parent company of Newfoundland Power in late 1987.

Big deals: In May 2004, Fortis acquired FortisAlberta and FortisBC (Electric) for $1.5 billion. In May 2007, it expanded into the natural gas distribution business with the acquisition of FortisBC (Gas) for $3.7 billion. In June 2013, it completed the US$1.5 billion acquisition of CH Energy Group, Inc. (“CH Energy Group”). A year later, Fortis acquired Arizona-based UNS Energy Corporation for US$4.5 billion.

At the helm: Native Newfoundlander Barry Perry is the company’s president and CEO. He went to Memorial University in St. John’s and is a chartered accountant.

Reach: More than three million customers are served by the company’s regulated utilities in North America.