Videotron announces the sale of 4Degrees Colocation to Vantage Data Centers
Videotron announces today that it has reached a definitive agreement whereby Vantage Data Centers, a leading North American data center service provider, will acquire the operations of Videotron’s 4Degrees Colocation data centers for an amount of C$259 million, subject to certain adjustments.
Growth in the market for cloud-based IT solutions continues to accelerate, and the competition is global. In this context, this transaction will enable 4Degrees to continue growing as part of a company that is present in many strategic markets in North America. Videotron Business and its Fibrenoire subsidiary will continue their mission of providing the best telecommunications solutions and supporting their customers in their migration to the cloud and data hosting, while continuing to achieve the highest satisfaction scores in the industry.
Videotron acquired Québec City-based 4Degrees Colocation in 2015. As part of Videotron, 4Degrees expanded its Québec City center and extended its operations to Montréal, where it built its second state-of-the-art data centre. In November 2017, 4Degrees Colocation became one of the few companies in Canada to achieve the prestigious dual Tier III Design and Construction certification from the Uptime Institute, an independent organization that serves as the international standard for data centers.
Ms. Brouillette added,
I want to thank our loyal customers and employees at 4Degrees, who have contributed so much to the company’s success in recent years. Vantage Data Centers will be able to rely on the seasoned teams at 4Degrees and their proven know-how and expertise.
The completion of the transaction is subject to customary closing conditions and is expected to occur in the next weeks.