Canadian incumbent Rogers Communications has agreed to buy Ontario-based cableco Source Cable for C$160m (US$143m).
Rogers revealed the acquisition when publishing its third-quarter results late last week. The deal is expected to close in the fourth…
Canadian incumbent Rogers Communications has agreed to buy Ontario-based cableco Source Cable for C$160m (US$143m).
Rogers revealed the acquisition when publishing its third-quarter results late last week. The deal is expected to close in the fourth quarter of 2014.
Source Cable provides TV, internet and phone services to about 26,000 homes in Hamilton, and its subscriber footprint is adjacent to existing Rogers cable systems, which is expected to pave the way for numerous synergies, the telco said.
A Rogers spokesperson was reported as saying that, following the acquisition, the company will have about 60,000 customers in Hamilton.
In January last year, Rogers bought Shaw Communications’ cable operations based in Hamilton in a C$700m deal that included options on licences in Western Canada.
Rogers posted C$3.25bn (US$2.9bn) in revenues for Q3 2014, compared to C$3.22bn (US$2.88bn) for the same period in 2013.
