Yesterday there was a bit of interesting fiber M&A from north of the border. The Canadian MSO Videotron has announced the acquisition of Fibrenoire.
Fibrenoire operates some 4,500km of metro fiber in and between Montreal, Quebec City, Ottawa, and Toronto. Videotron will be combining Fibrenoire’s resources with its own Business Solutions division. The combined company will have fiber assets of more than 30,000km across Canada. The deal will give them much deeper metro reach in the key markets of eastern Canada, and especially in Montreal.
The price tag was $125M, and the deal appears to be complete. Fibrenoire and its 60 employees are now operating as an independent subsidiary of Videotron, with its top management staying on.
This is the second significant fiber deal in Canada in recent months. Zayo’s purchase of Allstream brought it into Canada in a big way, and I’ll bet Videotron was involved in that auction as well.
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