(Ping! Zine Web Tech Magazine) – One of the largest hosting-related acquisitions in awhile was announced on Friday as Canadian-based ISP and cable company Cogeco agreed to buy PEER 1.
Worth $3.85 per share, the deal adds PEER 1’s vast infrastructure of 19 data centers to the cable provider’s portfolio.
The focus of PEER 1’s addition at the company? The SMB market.
“Data centre services are a key strategic focus for Cogeco Cable, and this acquisition is consistent with Cogeco Cable’s commitment to grow its presence in the sector. This acquisition enhances the company’s ability to provide complex co-location and managed data centre services to our customers,” commented Cogeco CEO Louis Audet in a press release.
In addition to general colocation services, PEER 1 specializes in cloud and managed hosting, infrastructure, among other platforms.
PEER 1 CEO Fabio Banducci focused on what the two sides have in common. “Both of our companies strive for exceptional customer service and technological excellence,” he remarked.
Finalization of the agreement arrived after consultation with RBC Capital Markets.