Videotron acquires fibre optic company Fibrenoire for $125 million

MONTREAL -- Videotron Ltd. is spending $125 million to acquire Fibrenoire, a company which specializes in fibre optic connectivity for businesses.

See Full Article

Montreal-based Fibrenoire, which has 60 employees, operates a network of 4,500 kilometres of fibre optic cable in Montreal, Quebec City, Ottawa and Toronto, and is now an independent subsidiary of Videotron.

Videotron, which already serves 125,000 companies through its fibre optic networks, coaxial cable and mobile network LTE, says the transaction will enable it to meet the growing demand from business customers for fibre optic connectivity.

Videotron, a wholly-owned subsidiary of Quebecor (TSX:QBR.B), says the three founding owners of Fibrenore will remain in their current positions with the company.

Quebecor president and CEO Pierre Dion says this and other recent acquisitions will increase its presence in growing market segments and further diversify the company's revenue streams.



Advertisements

Latest Economic News

  • Business journalist Amanda Lang will return to BNN in January 2018

    Economic CTV News
    TORONTO - After six years at the CBC and just under a year at the now-defunct Bloomberg TV Canada, business journalist Amanda Lang will return to Business News Network in January. CTV News president Wendy Freeman announced Wednesday that Lang will also contribute to other Bell Media properties including CTV News and iHeartRadio. Source
  • Be more 'courageous' about diversity, Deloitte report urges Canadian companies

    Economic CBC News
    Canadian business leaders need to take "courageous" actions to make sure their companies are more diverse and inclusive in order to remain competitive amid demographic and technological changes in the workplace, according to a new report released Wednesday. Source
  • Major Ont. labour reform bill that includes minimum wage hike expected to pass

    Economic CTV News
    TORONTO -- A bill that would bring major labour reforms, including a controversial minimum-wage hike, to Ontario is expected to pass a vote in the provincial legislature today. The Liberal government's legislation includes equal pay for part-time workers, increased vacation entitlements and expanded personal emergency leave, but the centrepiece is an increase in the minimum wage. Source
  • Meg Whitman's surprise exit from Hewlett Packard Enterprise stumps Wall Street

    Economic CBC News
    Shares of Hewlett Packard Enterprise Co. fell more the seven per cent on Wednesday after chief executive officer Meg Whitman's decision to step down from the role took Wall Street by surprise. Whitman, one the most high-profile executives in the United States, said on Tuesday she would quit as CEO in February and hand over the reins to company veteran Antonio Neri. Source
  • Iraq, GE sign $400 million deal for power infrastructure

    Economic CTV News
    BAGHDAD -- Iraq and General Electric have signed a deal to develop Iraq's power infrastructure, which would help bring much-needed electricity to areas facing significant shortages across the country. GE says in a statement released on Wednesday that the more than $400-million contract will help building 14 electric substations and supply critical equipment such as transformers, circuit breakers and other outdoor equipment to revamp existing substations. Source
  • Survey suggests more Canadians plan to do holiday shopping online this year

    Economic CTV News
    A new survey suggests more Canadians are planning to do some or all of their holiday shopping online this year. A survey commissioned by FedEx Canada and released today found that 65 per cent of Canadians polled planned to shop online this year, while 55 per cent said they did so last year. Source
  • Oil price rises to 2-year high above $58 US on supply slowdown

    Economic CBC News
    The benchmark North American oil price hit its highest price in 2½ years on Wednesday as lower production from Canadian oilsands coupled with reduced inventories in the U.S. to push down supply. The price of West Texas Intermediate touched $58.05 US a barrel a little before 6 a.m. Source
  • Uber isn't saying how many Canadians were affected by year-old hack

    Economic CTV News
    TORONTO -- Uber is owning up to a year-old security breach that saw hackers steal the personal information of millions of customers around the world, but is not saying how many Canadians have been affected. Source
  • Morneau's tax proposals still need work despite changes, critics insist

    Economic CBC News
    A coalition of industry associations says Bill Morneau must make more changes to the controversial tax proposals he first unveiled last summer to ensure he addresses deep, persistent concerns in the small-business community. The group, which came together in recent months as a vocal opponent of the finance minister's tax-reform plan, is urging him to go further — beyond the adjustments he made to calm an uproar that dogged him for months. Source
  • Deloitte report urges Canadian companies to be more courageous about diversity

    Economic CTV News
    MONTREAL -- Canadian business leaders need to take "courageous" actions to make sure their companies are more diverse and inclusive in order to remain competitive amid demographic and technological changes in the workplace, according to a new report released Wednesday. Source