Data Centers Canada Inc. co-founder Tony Di Benedetto has confirmed that Toronto-based broadband services provider TeraGo Networks Inc. will acquire his company.
The share purchase deal is expected to reach $9,500,000 and will be paid in cash installments. The deal is expected to close at the end of May.
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Data Centers Canada operates a 16,000 square foot SSAE 16 certified data centre facility in Vaughan, Ont., a suburb of Toronto. There will be no interruption to staff or service from this acquisition.
As to the reason for the deal, Di Benedetto told CDN that he and his partner are serial entrepreneurs.
Bryan Boyd, President and CEO of TeraGo Networks, said acquiring Data Centers Canada will support the company’s initiative to offer complementary services and this deal becomes a step towards continued growth.