Atria Networks LP

Atria Networks LP

October 26, 2007 10:16 ET

Atria Networks Acquires PowerStream's Fibre-Optic Assets

Data services extended across Central Ontario

KITCHENER, ONTARIO--(Marketwire - Oct. 26, 2007) - Atria Networks LP today announced that it has acquired the fibre-optic assets and related contracts of PowerStream Inc., the electricity distribution company jointly owned by the City of Vaughan and the Town of Markham.

"We're excited about extending our network coverage and providing high-speed reliable data services for these local area businesses and look forward to servicing this community," said Steve McCartney, CEO of Atria Networks.

The acquisition of PowerStream's fibre-optic assets is another important step forward for Atria's goal of establishing a contiguous network that connects vibrant, growing markets across Ontario with fast and highly dependable Internet access. For PowerStream, the transaction is a strategic opportunity.

"Although we are still retaining sufficient communications infrastructure for our operating and distribution network, the sale of our surplus fibre-optic assets is consistent with our strategy to be more focused on our core business of providing electricity distribution services to the customers in our service territory," Brian Bentz, PowerStream's President and CEO explained. "By selling these assets to Atria Networks LP, we have ensured that our customers will be serviced by an organization that specializes in this type of product and business."

The PowerStream acquisition follows a recent and similar acquisition of the Simcoe Community Broadband Network, or SCBN, the primary fibre-optic Internet service provider for Barrie and surrounding area.

Consistent with its growth strategy, Atria will soon directly connect areas such as Markham, Richmond Hill and Vaughan to Barrie and Waterloo, providing unprecedented, seamless access to an expanded fibre-optic network operating across Central Ontario.

Through its regional offices, Atria Networks will continue to serve PowerStream fibre-optic customers, adding new and enhanced services as they become available.

About Atria Networks

Atria Networks LP specializes in business data services, offering the fastest high-dependability solutions for Internet access, point-to-point connectivity and IT continuity.

With one of the most extensive fibre-optic networks in Ontario, Atria can scale immediately to meet any bandwidth requirement. Continuity services include offsite data storage, email and web security, and Internet redundancy for protection against downtime losses in revenue and productivity. Active in the communities served, Atria Networks provides free WiFi Internet in public libraries and invests locally in education and literacy.

About PowerStream

PowerStream Inc. is the third largest local electricity distribution company in Ontario, providing service to more than 234,000 residential and business customers in the municipalities of Aurora, Markham, Richmond Hill and Vaughan. It is an incorporated entity, jointly owned by the City of Vaughan and the Town of Markham.

Contact Information

  • Atria Networks LP
    Steven McCartney
    CEO
    Toll free 310-1214 or (519) 543-3000
    Website: www.atrianetworks.com
    or
    PowerStream Inc.
    Eric Fagen
    Corporate Communications Manager
    (905) 417-6910
    Website: www.powerstream.ca