BURLINGTON – Cogeco Cable has reached a definitive agreement to acquire all the assets of FibreWired Burlington Hydro Communications, Burlington Hydro Electric Inc.’s telecommunications division.
The purchase price was not disclosed.
FibreWired Burlington Hydro Communications, which operates a broadband network equipped with next generation ATM and Ethernet technology, provides Burlington organizations with broadband capacity for data networking, high-speed Internet access, hosting services, ebusiness applications, video conferencing and other advanced communications.
This is the second municipally owned telecom net Cogeco has bought this past month, having recently agreed to acquire MaXess in Windsor.
Cogeco Cable will use the Burlington network to expand its commercial broadband service offering in the area, which is in Cogeco Cable’s footprint. “FibreWired Burlington Hydro Communications customers will also be able to benefit from Cogeco Cable’s suite of business products and access to Cogeco Cable’s extensive fibre network spanning Ontario and Quebec,” reads the release.
“This acquisition… is another step in the enrichment of the Cogeco Business Solutions Data offering”, said Louis Audet, president and CEO of Cogeco Cable. “FiberWired Burlington Hydro Communications is a great growth opportunity that is in line with our strategy and meets our stringent criteria. We are confident it will prove a great added value for Cogeco Cable’s customers, shareholders and employees.”
“Profitable growth has always been an important objective for Cogeco Cable, and we remain open to any opportunity that meets our criteria in Canada and elsewhere,” added Audet.
