Cogeco buys Quebec rural operator DeryTelecom for $405 million

MONTREAL –- Cogeco Communications announced this morning it will purchase rural cable/telco/ISP DeryTelecom for $405 million. Based in Saguenay, DeryTelecom offers internet, television, and telephony services to approximately 100,000 customers in over 200 municipalities across several regions in Quebec, including Estrie, Lanaudière, Montérégie and the Laurentians. Revenue and adjusted EBITDA for the fiscal year ended August 31, 2020 are estimated to be $105 million and $44 million, respectively, reads the Cogeco press release. Cartt.ca featured the company in 2017. It was established by Gilles Déry, a TV salesman, in 1954. Back then, over-the-air TV reception wasn’t very good in regions...