Cogeco sheds Cogeco Peer 1 for $720M as it focusses on broadband services businesses

MONTREAL - Cogeco Communications is selling its business information and communications technology services subsidiary Cogeco Peer 1 Inc. to investment firm Digital Colony for $720 million.Cogeco Peer 1’s portfolio includes over 3,300 route kilometers of owned, dense metro fiber in greater Toronto and Montreal, as well as several data centers across North America and Europe. Wednesday’s announcement said that the company will remain headquartered in Toronto and adopt a new brand.Cogeco Communications said that it will retain “significant” fibre capacity in Toronto and Montreal under the deal, adding that it has signed a commercial agreement with Digital Colony “aimed at...