Digital Colony buys data centres firm Cogeco Peer 1
Cogeco Communications is selling Cogeco Peer 1 to affiliates of Digital Colony. It will remain headquartered in Toronto and adopt a new brand. Additively, Cogeco Communications bought Peer 1 in 2013.
Digital Colony has agreed a €478.9m deal to buy a cloud services compnay from Cogeco Communications. The transaction is expected to close during the second quarter of 2019.
Peer 1’s portfolio includes over 3,300 route kilometres of owned, dense metro fibre in greater Toronto and Montreal. Besides, the firm owns and operates several data centres across North America and Europe.
According to deal, Cogeco Communications will retain significant fibre capacity in Toronto and Montreal. The company and Digital Colony have signed a commercial agreement aimed at better supporting their customers and further developing their respective businesses in the future.
Susan Bowen, the CEO of Peer 1, said: “We are grateful for the support and resources Cogeco Communications has provided as we established a strong fibre footprint in Canada’s two largest cities, and served customers across the globe with secure enterprise data centre solutions.”
Marc Ganzi, a managing partner of Digital Colony, said: “Cogeco Peer 1 is poised for continued success and growth as changes in the sector, including increased demand for connectivity, drive digital infrastructure spending in Canada.
Fulya Altunyay/ [email protected]