Cogeco Câble inc.
TSX : CCA

May 01, 2008 09:22 ET

Cogeco Cable Acquires FibreWired Burlington Hydro Communications in Burlington, Ontario

MONTREAL, QUEBEC--(Marketwire - May 1, 2008) - Cogeco Cable (TSX:CCA), the second largest cable operator in both Ontario, Quebec and Portugal based on the number of Basic Cable service customers served, announced today it has reached a definitive agreement to acquire all the assets of FibreWired Burlington Hydro Communications, Burlington Hydro Electric Inc.'s telecommunications division (City of Burlington's energy company).

FibreWired Burlington Hydro Communications, which operates a broadband network equipped with next generation ATM and Ethernet technology, provides Burlington organizations with the broadband capacity they need for data networking, high-speed Internet access, hosting services, e-business applications, video conferencing and other advanced communications. Cogeco Cable will use this network to expand its commercial broadband service offering in the area, which is in Cogeco Cable's footprint. FibreWired Burlington Hydro Communications customers will also be able to benefit from Cogeco Cable's suite of business products and access to Cogeco Cable's extensive fibre network spanning Ontario and Quebec.

"This acquisition, which follows the acquisition of MaXess Networx® in the Windsor area, is another step in the enrichment of the Cogeco Business Solutions Data offering", said Louis Audet, President and CEO of Cogeco Cable. "FiberWired Burlington Hydro Communications is a great growth opportunity that is in line with our strategy and meets our stringent criteria. We are confident it will prove a great added value for Cogeco Cable's customers, shareholders and employees."

"The sale of our FibreWired assets provides excellent value to our shareholder, the City of Burlington." David Collie, Burlington Hydro's President and CEO explained. We are pleased that Cogeco Cable, an experienced and successful cable operator that is also very involved in the Burlington region, is taking charge of FibreWired Burlington Hydro Communications customers. We are confident that businesses and public-sector organizations will be in good hands".

"Profitable growth has always been an important objective for Cogeco Cable, and we remain open to any opportunity that meets our criteria in Canada and elsewhere. In the meantime, we are committed to giving outstanding service to our customers, creating value for our shareholders and playing an active role in the development of the communities we serve and of the Canadian cable telecommunications industry," continued Mr. Audet.

ABOUT COGECO CABLE

Cogeco Cable (www.cogeco.ca), a telecommunications company offering a diverse range of services to its customers in Canada and in Portugal, is the second largest cable operator in Ontario, Quebec and Portugal, in terms of the number of Basic Cable service customers served. Through its two-way broadband cable networks, Cogeco Cable provides its residential and commercial customers with Analogue and Digital Television, High Speed Internet, Telephony and Data services. The Corporation provides approximately 2,625,000 revenue-generating units (RGUs) to 2,390,000 homes passed in its Canadian and Portuguese service territories. Cogeco Cable's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA).

ABOUT BURLINGTON HYDRO ELECTRIC INC.

Burlington Hydro Electric Inc., established in 1945 as the Burlington Public Utilities Commission, is an energy services based company in the power distribution business. The company serves over 62,000 residential and business customers in the City of Burlington. Burlington Hydro Electric Inc. is committed to engineering and service delivery excellence. It is an incorporated entity, owned by its sole shareholder, the City of Burlington. Visit Burlington Hydro on the web at www.burlingtonhydro.com

Contact Information

  • Cogeco Cable
    Marie Carrier
    Director, Corporate Communications
    514-874-2600
    or
    Burlington Hydro Electric Inc.
    David Collie
    President and CEO
    905-332-2264