Videotron buys Fibrenoire for $125M

MONTREAL – Videotron is acquiring Montreal-based fibre-optic connectivity services provider Fibrenoire for $125 million, the company announced Thursday.Fibrenoire deploys and operates its own 4,500 km fibre-optic network in the Toronto, Ottawa, Montréal and Québec City metropolitan areas, and ranked as Québec's fastest-growing company on the PROFIT 500 list in 2014.The transaction will allow Videotron Business Solutions and Fibrenoire to join forces to meet the growing demand from business customers for fibre-optic connectivity, reads the announcement.Fibrenoire becomes an independent subsidiary of Videotron, and its head office and 60 employees will remain in Montréal's Park Extension neighbourhood. The company's three founding owners, president Benjamin Desmarais, sales...