TORONTO — Aptum Technologies (formerly Cogeco Peer 1) announced today it has completed a transaction with Beanfield Metroconnect for the acquisition of Aptum’s WAN (wide area network) business. Both companies are owned by global digital infrastructure investor Digital Colony.
The agreement between the two companies allows Aptum to focus on growing its data centre and hybrid multi-cloud solution offerings, while the addition of Aptum’s metro networks in Toronto and Montreal enhances Beanfield’s connectivity and fibre solutions, says the news release.
“We are confident that sharpening our long-term focus by investing more time and resources into the growth and enhancement of our data centre platforms is the right move for Aptum and will allow us to solidify our hybrid multi-cloud managed solution offerings,” said Susan Bowen, president and CEO, in the news release. “As we move toward a new normal, we look forward to working closely with our invaluable partners at Digital Colony to capitalize on growing demand and continue to provide our customers with complex cloud, hosting and colocation services that prioritize security and flexibility.”
Aptum is working closely with Beanfield to ensure a smooth transition for WAN business customers, says the release.
In a separate news release issued today by Digital Colony, the investment company announced a strategic recapitalization of Beanfield Metroconnect, including $255 million in financing, to support its growth through a variety of new segment and revenue opportunities.
Earlier this year, Beanfield acquired Openface, a Montreal-based provider of fibre-based telecom services primarily to small and medium-sized businesses and enterprise customers.
Since Digital Colony’s investment in 2019, Beanfield has grown its network from approximately 400 route kilometres to more than 4,000 KM across both Toronto and Montreal, with on-net building coverage increasing from approximately 550 buildings to 3,200 buildings, says the release.
“In today’s environment, the need for connectivity has only grown as networks experience unprecedented demand,” said Dan Armstrong, CEO of Beanfield Metroconnect, in the news release. “At Beanfield, we have always invested in building communities — not just networks. We expect our employees, customers and valued partners in Canada’s two largest regions will see numerous benefits from this strategic recapitalization as we expand our offerings and increase our investment in robust fibre networks.”
