Cogeco snaps up Peer 1 Network for $526 million

MONTREAL and VANCOUVER - Cogeco Cable is buying Peer 1 Network Enterprises for $526 million as it continues to focus on expanding its cloud and data computing services. Cogeco is offering $3.85 for each Peer 1 share, a premium of 30.5% compared to the stock’s closing price on Thursday. Peer 1 is one of the world's leading internet infrastructure providers, specializing in managed hosting, dedicated servers, cloud services and colocation. The acquisition of Peer 1, combined with Cogeco Cable's existing data centre capabilities, will increase the scale and scope by adding the capability to service an additional 10,000 businesses worldwide...