Cogeco Communications Inc. Announces the Completion of Cogeco Connexion's Acquisition of DERYtelecom
MONTRÉAL, Dec. 14, 2020 /CNW Telbec/ - Cogeco Communications Inc. (TSX: CCA) announced today that its subsidiary Cogeco Connexion has completed the acquisition of DERYtelecom, the third-largest cable operator in the province of Québec.
"We are very pleased to have completed this strategic transaction that enables Cogeco Connexion to significantly increase its presence in Québec, the province where Cogeco was founded more than 60 years ago," said Philippe Jetté, President and Chief Executive Officer of Cogeco Communications Inc. "Our regional presence and our continued success in integrating regional cable companies is a testament to our commitment to serving communities outside of major urban centres and providing them with high-quality connectivity."
Frédéric Perron, President of Cogeco Connexion, stated: "We are excited to welcome DERYtelecom's employees and customers to Cogeco Connexion. In addition to our shared values, DERYtelecom and Cogeco have many similarities, such as a strong regional presence, and we look forward to ensuring that this remains our greatest strength."
With the closing of this transaction, Cogeco Connexion is expanding its activities in more than 200 municipalities in Québec, including in the Estrie, Lanaudière, Montérégie and Laurentians regions, and adding approximately 100,000 customers to its client base. In the short term, DERYtelecom will continue to operate under its current name and trademark.
ABOUT COGECO COMMUNICATIONS
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.