NEWS RELEASE
CITY OF NIAGARA FALLS
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Niagara Falls Hydro Holding Corporation (NFHHC) and Energy Services Niagara Inc (ESNI) jointly announced today with Cogeco Communications Inc. (TSX: CCA) that Cogeco Connexion is acquiring Niagara Regional Broadband Network (NRBN), a Niagara based internet, telephone and television service provider. NFHHC is a company owned by the City of Niagara Falls. ESNI is a company owned by the Town of Niagara on the Lake. NRBN was jointly owned by NFHHC (75 per cent) and ESNI (25 per cent). NFHHC and ESNI will continue to hold a minority stake in NRBN after the conclusion of the transaction.
NRBN was originally developed to bring high-speed internet services to Niagara. NRBN has created a strong niche presence in the Municipal, University, School Board, College and Hospital (MUSH) sector as well as a strong commercial base. NRBN will continue to play a critical role in ensuring high speed access in Niagara. In addition, Cogeco commits to continue investing in its broadband networks in the Region.
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“We are delighted to welcome NRBN to the Cogeco family,” said Philippe Jetté, president and chief executive officer of Cogeco Inc. and Cogeco Communications Inc. “Bolstered by the core values that we share, we look forward to enhancing and expanding the services we offer to businesses and residents of the Niagara Region. NRBN is a local provider like us, we’ve acquired them to take their business to the next level and contribute even more to the local economy.”
“We have a strong commitment to the Niagara community through investing in our fibre-powered network, hiring locally, providing local programming on YourTV, and supporting local charities and community events. We are proud to continue our mission with NRBN to connect residents, businesses, and institutions to high-speed Internet that is locally served,” said Frédéric Perron, president of Cogeco Connexion.
“Having fast, reliable internet service in Niagara is critical to our Region’s success. We wanted to ensure that this move will maximize the network NRBN created to benefit the residents of Niagara. This is a long-term move that will position Niagara at the leading edge of high quality internet services and the advancing, competitive market,” said Jim Diodati Mayor of Niagara Falls and board chair of NRBN.
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