Oct, 2001 : Telus Completes Purchase of PSINet Canada
📅 - Telus (telus.com) has announced that it successfullycompleted the purchase of PSINet's Canadian operations and facilities.
"This transaction is a major step toward achieving our goal of becoming aleading e-solutions provider in Canada and supports our national data andInternet Protocol growth strategy," said Darren Entwistle, president and CEOof Telus. "This acquisition underscores Telus' commitment to be a leadingInternet access and hosting provider in the Canadian market."
Telus announced on June 20 that it had signed an agreement with certainsubsidiaries of Virginia-based PSINet Inc. to purchase PSINet's Canadianoperations and facilities for approximately US$77 (C$120) million. PSINetInc. announced on Sept. 26 that both the U.S. Bankruptcy Court and theOntario Superior Court approved the transaction. Through this acquisition,Telus gains approximately 250 highly skilled employees, a state-of-the-artInternet data centre in Toronto, national fibre infrastructure includingapproximately 6,400 fibre kilometres and over 50 points of presence, andover 8,000 corporate accounts across the country.
Telus also assumes ownership of Calgary-based Internet Service ProviderCADVision. Last year PSINet Canada generated most of its revenue in Ontario.
"This transaction is a major step toward achieving our goal of becoming aleading e-solutions provider in Canada and supports our national data andInternet Protocol growth strategy," said Darren Entwistle, president and CEOof Telus. "This acquisition underscores Telus' commitment to be a leadingInternet access and hosting provider in the Canadian market."
Telus announced on June 20 that it had signed an agreement with certainsubsidiaries of Virginia-based PSINet Inc. to purchase PSINet's Canadianoperations and facilities for approximately US$77 (C$120) million. PSINetInc. announced on Sept. 26 that both the U.S. Bankruptcy Court and theOntario Superior Court approved the transaction. Through this acquisition,Telus gains approximately 250 highly skilled employees, a state-of-the-artInternet data centre in Toronto, national fibre infrastructure includingapproximately 6,400 fibre kilometres and over 50 points of presence, andover 8,000 corporate accounts across the country.
Telus also assumes ownership of Calgary-based Internet Service ProviderCADVision. Last year PSINet Canada generated most of its revenue in Ontario.
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