MONTREAL – Cogeco Cable said today it has completed the $200 million purchase of Toronto Hydro Telecom, the telecommunications subsidiary of Toronto Hydro Corporation, which was announced on June 13, 2008.
The new subsidiary of Cogeco Cable will now operate under the name of Cogeco Data Services Inc.
"The completion of this acquisition represents a significant step for Cogeco Cable because it strengthens our position in the business market segment," said Louis Audet, president and CEO of Cogeco Cable. "Mr. Dave Dobbin, president of Cogeco Data Services Inc., and his management team will continue to operate and lead this new subsidiary in order to foster the strong growth and customer service that have been its hallmark, with Cogeco Cable’s full support.”
Cogeco Data Services is a data communications provider offering a suite of network solutions, from connectivity, including Ethernet LAN extension services, Internet and private line, to value-added services like collocation, security and storage. With its fibre optic network and operations throughout the Greater Toronto Area (GTA), the company counts many of Canada’s leading businesses and institutions among its customers.
“This acquisition will allow Cogeco Cable to further the development of its business telecommunications activities,” reads today’s press release. “Entering the GTA market, the largest local business telecommunications market in Canada, brings interesting growth opportunities for the foreseeable future and provides a unique opportunity to add owned and operated points of presence throughout the GTA. Customers will also be able to benefit from Cogeco Cable’s extensive fibre network spanning Ontario and Quebec.”
