Oakville Hydro's Blink Communications To Buy Fibre Optic Telecom Assets From Mississauga's Enersource Telecom
Oakville, Ontario (March 16, 2006)
-- Oakville Hydro Corporation is pleased to announce
that its
telecommunications subsidiary, Blink Communications, is
acquiring the high-speed telecommunications
assets of Enersource Telecom Inc. of Mississauga. The
deal is expected to close this spring.
The assets to be purchased include 590
kilometres of a high-speed (10 gigabit per second) fibre
infrastructure located in a region that has been
attracting a significant number of head offices and
businesses
that require secure, high-speed telecommunication
networks. In addition to the fibre infrastructure, Blink
is
purchasing a solid foundation of existing public and
private sector customers, which include school boards
and a number of Fortune 500 corporations.
"This transaction represents a
tremendous opportunity for Oakville Hydro to expand its
profitable
communications business," said Alex Bystrin, President
and CEO of Oakville Hydro Corporation. "Merging
Blink's high-speed, fibre-based system with a similar
and contiguous network makes great business sense.
Blink can now offer its digital communications and data
management services to hundreds of business
customers in the rapidly growing City of Mississauga."
Blink Communications and Enersource
Telecom are working closely together to ensure a smooth
and
seamless transition for all customers and business
partners. The acquisition means that additional
high-tech
jobs will be coming to Oakville - Blink is extending
offers of employment to all of the personnel of
Enersource
Telecom.
"We are delighted to welcome the
Enersource Telecom employees and customers to Oakville
Hydro's Blink
Communications," said John Bobyk, Chairman of the Board
of Oakville Hydro Corporation. "Since 1999,
Blink has successfully grown its high-speed fibre optic
network that links businesses and organizations
together and to the Internet. This acquisition will
provide a solid foundation for continuing growth in the
scope and profitability of an important part of our
overall business. This is good news for the people of
our
community and for our shareholder, the Town of
Oakville."
"Combining Enersource's fibre-optic
assets with Blink's existing network significantly
increases our footprint in
southern Ontario, and further solidifies Blink's
position as a local leader for Ethernet, private line
and Internet
services," said Troy Hare, General Manager of Blink
Communications. "This is an exciting opportunity for us
to further grow our customer base by offering businesses
and organizations in Mississauga access to a
comprehensive suite of new products and customized
services to meet their individual telecommunications
needs."
About Oakville Hydro Corporation and
Blink Communications
Oakville Hydro Corporation is a recognized leader in the
Distribution, Energy Services and Communications
sector. It serves the electrical energy and
communications needs of residential, commercial and
industrial
customers in one of the most desirable communities in
Canada through its three well integrated divisions,
Oakville Hydro Electricity Distribution Inc., Oakville
Hydro Energy Services Inc. and Blink Communications, a
high-speed fibre optic communications network service
provider. For more about Blink Communications visit
www.blink.ca.
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