Videotron buys Fibrenoire
Videotron has acquired Fibrenoire, a Montreal-based provider of fibre-optic connectivity services, for $125 million. According to Videotron, the transaction will allow it to better service business customers. Videotron has acquired all shares held by the founding shareholders as well as majority shareholder Novacap TMT. Fibrenoire will operate as an independent subsidiary of Videotron.
Fibrenoire serves customers in Montreal, Quebec City, Ottawa and Toronto and has a staff of approximately 60. Its founders, president Benjamin Desmarais, sales and engineering vice-president Rémi Fournier and chief technology officer Jean-François Lévesque, will remain in their positions.
"This transaction will strengthen Videotron's leadership in the business telecom market," said Manon Brouillette, president and CEO of Videotron. "Combining our expertise and our distinct but complementary facilities will equip us to continue our growth in the Quebec business market."
Videotron is a subsidiary of Quebecor Media.