Ottawa-based telecommunications provider PureColo is set to be acquired by Vancouver data centre company Carrier Connect Data Solutions, the companies announced Thursday.
In a press release, Carrier Connect Data Solutions said it has entered into a non-binding letter of intent to acquire the tech company from Purecolo Securityholders. The deal is valued at $4.1 million in shares and $4.4 million in cash.
A definitive agreement is expected to be reached by the end of September.
OBJ360 (Sponsored)
Howard Silver doesn’t like being in the spotlight, but he recognizes there are times when it’s important to step forward — and this is one of them. “I’m really doing
Inside YOW: How collaboration powers growth at Ottawa International Airport
Of all the many intricacies that come with running an international airport, one of the most fascinating, says Airport Authority President and Chief Executive Officer Susan Margles, is the remarkably
PureColo CEO Rainer Paduch said in the release that his team is excited to have the opportunity for more rapid growth and to serve more customers.
“PureColo is a major data centre operator in Ottawa serving almost 60 high technology customers, many of whom are multi-billion dollar, multi-national firms,” he said. “By joining with Carrier, PureColo now has the ability to bring its expertise to more cities and help other major enterprises to achieve their IT / Software product goals.”
Carrier Connect Data Solutions specializes in establishing Tier II and III data centres internationally that provide co-location, a service where businesses lease space within a third-party data center to house their servers and other hardware.
Purecolo, meanwhile, takes scrapped data centres from large private operators and puts them back into service, targeting small and medium-sized customers who can’t afford that kind of infrastructure themselves.
“PureColo is a fast growing data center company in the Canadian market, driven by an established team of industry professionals, making them an ideal addition to the Carrier portfolio,” said Carrier CEO Mark Binns in the release. ”We are thrilled to be adding PureColo data centers to our offering, and to working with their team once we complete the acquisition.”
Ottawa-based software company Leonovus previously signed a letter of intent to acquire PureColo in a deal worth $3 million in 2020, but the deal was terminated later that year.
