Digital Cable TV Provider Cogeco Cable Inc. Acquires Cloud Hosting, Managed Hosting, and Colocation Services Provider PEER 1 Network Enterprises, Inc.
 Cogeco Cable Inc., a Canadian provider of digital cable TV, high speed Internet and telephone services in Ontario and Québec, will acquire cloud hosting, managed hosting, and colocation services provider PEER 1 Network Enterprises, Inc. for around $526 million. The half-billion dollar deal - announced last Friday (21 December 2012) - allows Cogeco Cable to leverage expected growth in cloud consumption while boosting existing cable and Internet operations. The National Bank of Canada is underwriter for the deal, which follows the purchase of Montreal-based Atlantic Broadband for $1.36-billion earlier this year. PEER 1, which has headquarters in Vancouver, Canada, is recognized as one of the world's key Internet infrastructure providers. Adding PEER 1's capabilities to its current data center operations adds 19 data centers and another 10,000 businesses to Cogeco Cable's global customer base. The company will also acquire 21 points-of-presence in North America and Europe. The purchase underscores Cogeco Cable's strategic focus on data center services and allows the company to offer complex and managed data center services to current customers while increasing its presence in the small and medium-sized business sector. “There are compelling strategic, operational and financial reasons for this transaction,” Louis Audet, Chief Executive at Cogeco Cable explained. “It enlarges our footprint and builds on what we had already put together and it gives us access to a state of the art data centre platform across North America and starting in Europe.” Comment News
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