Cogeco Cable Completes Purchase of Web Hosting Leader, Peer 1

Cogeco Cable said it has satisfied the requirements necessary to acquire international Web hosting leader, Peer 1.

The $526-million deal for Vancouver-based Peer 1 (TSX: PIX) was announced on December 21st and consists of purchasing all of the issued and outstanding common shares for $3.85 each.

Louis Audet, President and CEO of Cogeco Cable, said: “We are fully committed to implementing our growth strategy in the data centre services sector and to further develop our robust service suite for businesses across Canada, the U.S. and parts of Europe. Peer 1, along with Cogeco Cable’s subsidiary Cogeco Data Services, will focus on delivering a seamless solution for our customers’ increasingly sophisticated and complex needs.”

Cogeco, which provides cable-TV, high-speed internet and telephone services, will gain 19 additional data centers, adding to the six it currently operates.

Cogeco said its data hosting business will rise approximately 10 percent per year organically and it will continue to build on the market leadership Peer 1 has in managed, dedicated, and co-location Web hosting as well as cloud computing services.

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