Energy Services Niagara Inc (ESNI) jointly announced today with Cogeco Communications Inc. (TSX: CCA) and Niagara Falls Hydro Holding Corporation (NFHHC) that Cogeco Connexion is acquiring Niagara Regional Broadband Network (NRBN), an Internet, telephone and television service provider. ESNI owned 25% of NRBN while NFHHC owned 75%. As part of the acquisition, Cogeco commits to continue investing in its broadband networks in the region.
“We are delighted to welcome NRBN to the Cogeco family,” said Philippe Jetté, President and Chief Executive Officer of Cogeco Inc. and Cogeco Communications Inc. “Bolstered by the core values that we share, we look forward to enhancing and expanding the services we offer to businesses and residents of the Niagara Region. NRBN is a local provider like us, we’ve acquired them to take their business to the next level and contribute even more to the local economy.”
“We have a strong commitment to the Niagara community through investing in our fibre-powered network, hiring locally, providing local programming on YourTV, and supporting local charities and community events. We are proud to continue our mission with NRBN to connect residents, businesses, and institutions to high-speed Internet that is locally served”, said Frédéric Perron, President of Cogeco Connexion.
“Ensuring Niagara residents and businesses have the best possible access to fast and reliable broadband services was always the goal of NRBN,” said Gary Zalepa, Lord Mayor of Niagara-on-the-Lake. “Working with Cogeco is the best means to achieve this in this new, competitive environment”.
“PwC Corporate Finance acted as Financial Advisor, and Gowling WLG acted as Legal adviser to ESNI
ABOUT ENERGY SERVICES NIAGARA INC.
Energy Services Niagara Inc is 100% owned by the Town of Niagara-on-the-Lake through Niagara-on-the-Lake Energy Inc, which also owns Niagara-on-the-Lake Hydro. ESNI provides services on behalf of the Town such as water billing and locates and invests in infrastructure projects.
ABOUT NIAGARA REGIONAL BROADBAND NETWORK
Niagara Regional Broadband Network Limited (NRBN) is Niagara’s premier choice for data communications services. NRBN operates the most extensive and advanced fibre network in the Niagara Region. Offering a fully-redundant and physically-diverse IP Backbone, NRBN is the perfect choice for disaster-recovery and business-continuity planning.
ABOUT COGECO COMMUNICATIONS INC.
Rooted in the communities it serves, Cogeco Communications Inc. is a growing competitive force in the North American telecommunications sector, serving 1.6 million residential and business customers. Through its business units Cogeco Connexion and Breezeline, Cogeco Communications provides Internet, video and phone services in Canada as well as in thirteen states in the United States. Cogeco Communications Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).