Cogeco acquires fixed wireless and fibre-to-the-home regional operator iTéract Inc.
MONTRÉAL, April 23, 2020 /CNW Telbec/ - Cogeco Communications Inc. (TSX: CCA) ("Cogeco") is pleased to announce that it has signed an agreement to acquire iTéract Inc., a company that operates as a full telecommunications service provider in southern Quebec, using a combination of fixed-wireless and fibre-to-the-home technologies. Given the exceptional circumstances due to the COVID-19 crisis, the parties will work to ensure an orderly closing of the transaction, which is expected in the coming weeks.
As part of the transaction, Cogeco will acquire 15 exclusive 3.5 GHz spectrum licenses for which the transfer was approved by Innovation, Science & Economic Development (ISED) Canada. The 3.5 GHz band is globally recognized for the deployment of 5G technologies.
"iTéract's network, spectrum licenses and expertise will be complementary assets in our strategy to extend our regional and rural Internet coverage and will further reinforce our position to enter the wireless market in a disciplined manner," said Luc Noiseux, Senior Vice President Strategy and Chief Technology Officer (CTO) at Cogeco Communications. "We look forward to serving these new communities and enhancing their customer experience."
iTéract's network and spectrum licenses cover a large region of rural southern Quebec and serve approximately 2,000 customers. For the time being, it will continue to operate under its brand name, Internexe. This transaction represents the third acquisition of spectrum licenses by Cogeco over the last two years.
ABOUT COGECO COMMUNICATIONS INC.
Cogeco Communications Inc. is a communications corporation. It is the 8th largest cable operator in North America, operating in Canada under the Cogeco Connexion name in Québec and Ontario, and along the East Coast of the United States under the Atlantic Broadband brand (in 11 states from Maine to Florida). The Corporation provides residential and business customers with Internet, video and telephony services through its two-way broadband fibre networks. Cogeco Communications Inc.'s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).
SOURCE Cogeco Communications Inc.