Rogers Acquires Atria Networks for $425 Million
Rogers Communications has entered into an agreement to acquire Atria Networks, owner and operator of a fiber optic network, for cash consideration of $425 million, subject to certain adjustments. Atria Networks is privately owned by Birch Hill Equity Partners.
The purchase of Atria Networks, based in Kitchener, Ontario, augments the Rogers Business Solutions offering by enhancing its ability to deliver on-net data centric services within and adjacent to the company’s cable footprint.
"The business-to-business market represents a significant opportunity for Rogers. The acquisition of Atria strategically fits with our enterprise strategy to offer on-net, high growth data services to small and medium sized businesses," said Nadir Mohamed, president and CEO, Rogers Communications, in a statement. "We are pleased to welcome Atria’s 130 employees to the Rogers team."
Atria’s unique and scalable network includes 5,600 fiber route kilometers and over 3,800 on-net buildings in high-growth territories including Ottawa, Cornwall, Kitchener-Waterloo, Cambridge, Guelph, Richmond Hill, Markham, Hamilton, Barrie, Orillia, Peterborough and Vaughan. Atria serves a diverse customer base of over 1,100 customers spanning the public sector, enterprise and carrier providers.
The closing of the transaction is subject to regulatory approval. Rogers expects the transaction to close prior to the end of its first quarter, 2011.