Rogers Spends $416 Million for Atria
Canadian Media company Rogers Communications has
acquired Atria Network, the owner and operator of one of Ontario's largest
fiber-optic networks for $C425 million ($416 million) in cash from Birch Hill
Rogers, which is a major cable TV, wireless,
broadband, TV broadcasting, print and radio player in Canada, plans to use the
fiber optic company to expand its business services offering.
"The business-to-business market represents a
significant opportunity for Rogers," said Nadir Mohamed, president and CEO of
Rogers Communications, in a statement. "The acquisition of Atria strategically
fits with our enterprise strategy to offer on-net, high growth data services to
small and medium sized business."
Rogers hopes to close the deal, which is subject to
regulatory approval, prior to the end of its first quarter 2011.
Atria currently serves about 1,100 customers and
its network includes 5,600 fiber route kilometers and over 3,800 on-net
buildings in high growth areas of Canada like Ottawa.
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