CALGARY – Shaw Communications announced today that it has signed an agreement to acquire fibre-optics network provider Enmax Envision Inc. from Enmax Corp. for approximately $225 million. Enmax is a wholly owned division of the city of Calgary and is primarily an energy provider.
Envision is a data communications provider operating one of Calgary's largest fibre-optic networks and specializing in providing large bandwidth solutions to businesses that require a dedicated internet connection or need to connect multiple locations over private networks.
“This transaction catapults our growth in the competitive Calgary business marketplace, and demonstrates our resolve to grow this segment of our business,” said Brad Shaw, CEO, in a release. “The combination of Envision and Shaw Business will create a very competitive value proposition for Calgary’s business customers looking for leading connectivity, integrated services, and effective and responsive service.”
“We look forward to expanding Shaw Business with a highly attractive offering for Calgary's business community, including products and services complementary to those currently offered by Envision,” Shaw added.
While noting the sale process attracted a number of buyers, Enmax CEO Gianna Manes said in the release: "We are pleased to have come to terms with Shaw Communications and believe Envision's customers and employees will be well served by this transaction. For Enmax, this transaction enables us to continue to strengthen our financial position and positions us for future investment as we look to grow our electricity business."
