Source: MARKETWIRED
YORK REGION, ONTARIO–(Marketwired – May 23, 2013) – TeraGo Inc. (TSX:TGO) (www.terago.ca), a leading national broadband services provider to businesses in Canada, has entered into a definitive share purchase agreement to acquire Data Centers Canada Inc.
Data Centers Canada operates a 16,000 square foot SSAE 16 certified data centre facility in Vaughan, Ontario, and provides data centre solutions, including colocation and disaster recovery, to businesses, enterprises, public sector and technology service providers. The deal is expected to close on May 31, 2013, subject to satisfaction of customary closing conditions.
The purchase price is expected to be approximately $9,500,000, subject to any purchase price adjustments, and will be payable in cash instalments.
Data Centers Canada’s operations and management team will continue on with the Company to ensure a smooth transition.
“Acquiring Data Centers Canada will support our initiative to offer complementary services,” says Bryan Boyd, President and Chief Executive Officer, TeraGo Networks Inc. “This is a positive step toward our continued growth and will enable us to provide services that our customers require to do business.”
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The Regional Municipality of York is located in the heart of the Greater Toronto Area and is home to 1.1 million residents and 42,000 business establishments, making it one of Canada’s largest municipalities and the second largest business centre in the Province of Ontario.
Comprised of nine local municipalities, York Region is a premier business location in Canada. The Region is home to operations of 14 Fortune 100 companies, four of Canada’s top 10 corporate R&D investors, Canada’s second largest Information & Communications Technology (ICT) cluster and global industry leaders in Life Sciences, CleanTech, Financial Services and Advanced Manufacturing.
As Canada’s fastest growing large municipality, York Region has one of the most educated and diverse workforces in North America, the lowest commercial property taxes in greater Toronto and an exceptional quality of life attracting top global talent.
York Region’s local municipalities include the City of Markham, the City of Vaughan, the Town of Richmond Hill, the Town of Newmarket, the Town of Aurora, the Town of Whitchurch-Stouffville, the Town of East Gwillimbury, the Town of Georgina and the Township of King.