PowerStream Inc.

PowerStream Inc.

October 26, 2007 11:10 ET

PowerStream Divests Its Excess Fibre-Optic Assets

YORK REGION, ONTARIO--(Marketwire - Oct. 26, 2007) - PowerStream Inc. announced today that it has sold its excess fibre-optic assets and related contracts to Atria Networks LP.

As part of the transaction, PowerStream will retain the fibre infrastructure required to support its current and future operational requirements necessary in serving the public. The sold fibre-optic assets were not used by the corporation in its operational requirements for monitoring the electricity network nor for its internal corporate communications network.

"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 which specializes in this type of product and business."

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.

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

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

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.

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.

Contact Information

  • Media Contacts:
    PowerStream Inc.
    Eric Fagen, Corporate Communications Manager
    Office Phone: (905) 417-6910
    Media Line (24/7): (905) 417-6937
    Email: eric.fagen@powerstream.ca
    or
    Atria Networks LP
    Steven McCartney
    CEO
    Toll Free: 310-1214
    Website: www.atrianetworks.com