The largest independent fibre-optic network in Toronto and Montreal this week announced the acquisition of Urbanfibre, a fibre provider operating in the Vancouver area.
The acquisition is part of Beanfield Metroconnect’s commitment to expanding its network and service offerings across Canada’s major metropolitan areas and, including on the West Coast.
“[Urbanfibre] shares our values and goal of supporting and providing communities with reliable, fibre-optic connectivity at competitive prices,” stated Dan Armstrong, CEO of Beanfield. “We believe that joining with Urbanfibre is another important step in our continued focus on building the communications network of the future.”
Through the acquisition, both companies will grow stronger together as each team is able to share its expertise and resources, according to a statement from Beanfield and Urbanfire.
Armstrong believes the move “further strengthens our position to offer business and residential customers top-of-class connectivity as Canadians continue to work in a hybrid world and bandwidth needs and speeds increase.”
For the time being, the latter will continue to operate as Urbanfibre and customers will not see any changes to their plans or pricing on the existing network, the firm says.
“It was clear from early in our discussions that the history and values of the two companies aligned,” says Jon Paul Janze, CEO at Urbanfibre. “We share a similar approach and emphasis on incredible customer service, embracing innovation and are community focused.”
Beanfield and Urbanfibre want to “connect communities by challenging the traditional model of telecom in Canada.”
By joining forces, “we’ll be able to build on our rich histories and expand our offerings,” noted Janze. “This will ensure true competition and network resiliency is available across the Greater Vancouver Area.”