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Cogeco Communications Announces the Acquisition of DERYtelecom

Cogeco has entered into a definitive agreement to purchase DERYtelecom, the third largest cable provider in the province of Quebec for $405 million. DERYtelecom is based in Saguenay, Quebec and offers Internet, television and telephony services to approximately 100,000 customers in over 200 municipalities across several regions in Quebec, including Estrie, Lanaudière, Montérégie and the Laurentians. The transaction is subject to regulatory approvals under the Competition Act along with other customary closing conditions and is expected to close no later than the second quarter of the fiscal year 2021.

"The acquisition of DERYtelecom is a strong strategic fit which will allow Cogeco Connexion to increase its presence in areas that are adjacent to its Quebec footprint and to build on the long history of mutual respect, collaboration and friendship between the two companies," said Philippe Jetté, President and Chief Executive Officer of Cogeco Communications Inc. "Our proven track-record in the successful integration of regional cable businesses, having acquired five companies in the U.S. and Canada over the past five years alone, demonstrates our commitment to bring superior connectivity to regional and rural communities."
 

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It's also a response to Rogers' attempt to take over Cogego. Cogeco just made itself a bigger and more difficult takeover target.
 
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