Press release from Marketwire
Cogeco Cable Acquires Quiettouch Inc.
Monday, June 27, 2011
Cogeco Cable Acquires Quiettouch Inc.08:55 EDT Monday, June 27, 2011MONTREAL, CANADA--(Marketwire - June 27, 2011) - Cogeco Cable Inc. (TSX:CCA) announced today it has reached a definitive agreement to acquire all of the shares of Quiettouch Inc. ("Quiettouch"), a leading independent provider of outsourced managed IT and infrastructure services to mid-market and larger enterprises in Canada.Quiettouch offers a full suite of differentiated services that allow customers to outsource their mission-critical IT infrastructure and application requirements, including managed infrastructure and hosting, virtualization, firewall services, data backup with end-to-end monitoring and reporting, and enhanced and traditional colocation services. Quiettouch operates three data centres in Toronto and Vancouver, as well as a fibre network within key business areas of downtown Toronto."We're thrilled to announce this acquisition. It is in line with our strategy of developing the business market. It also demonstrates our willingness to seize upon external growth opportunities in our Canadian footprint when they arise," said Louis Audet, President and CEO, Cogeco Cable. "This acquisition will enable us to widen our market focus and better serve the medium and large business market. Quiettouch is very well positioned in the managed IT and infrastructure services market and provides tremendous growth potential in the foreseeable future.""We're pleased with this transaction. Cogeco Cable is a well-respected and a well positioned company in the telecommunications industry," said Dave Templeton, President, Quiettouch. "We feel strongly that this transaction will also create added value for our customers, employees and management, who will benefit from Cogeco Cable's expertise and market knowledge."The transaction will close once certain arrangements and commercial approvals are obtained. Cheverny Capital was Cogeco Cable's advisor for this proposed transaction. ABOUT COGECO CABLECogeco Cable (www.cogeco.ca) is the second largest cable operator in Ontario, Québec 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 customers with Audio, Analogue and Digital Television, as well as HSI and Telephony services. Cogeco Cable also provides its business customers with data networking, e-business applications, video conferencing, web hosting, Ethernet, private line, VoIP, HSI, data storage and security, and co-location services and other advanced communication solutions. Cogeco Cable's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA).ABOUT QUIETTOUCHQuiettouch (quiettouch.com) is a leading service provider of fully Managed and integrated information technology operations; Managed Services, Data Center Services, Network and Fiber Services, and Strategic Outsourcing that has been designed for mission critical business applications. The Company is focused on its customers' business requirements and needs, no matter how big or small. Quiettouch's IT expertise, combined with an in-depth knowledge of today's business environment has placed the Company at the forefront of the technology services marketplace. Quiettouch combines its business intelligence with state-of-the-art technology and services to provide its customers with integrated, customized, single-source IT business solutions.NOTE REGARDING FORWARD-LOOKING STATEMENTSCertain statements contained or incorporated by reference in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to Cogeco Cable's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue", "foresee", "ensure" or other similar expressions concerning matters that are not historical facts. In particular, statements regarding Cogeco Cable's future operating results and economic performance and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities which Cogeco Cable believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to Cogeco Cable, they may prove to be incorrect. Cogeco Cable cautions the reader that the economic downturn experienced over the past two years make forward-looking information and the underlying assumptions subject to greater uncertainty and that, consequently, they may not materialize, or the results may significantly differ from Cogeco Cable's expectations. It is impossible for Cogeco Cable to predict with certainty the impact that this economic environment may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what Cogeco Cable currently expects. These factors include technological changes, changes in market and competition, governmental or regulatory developments, general economic conditions, the development of new products and services, the enhancement of existing products and services, and the introduction of competing products having technological or other advantages, many of which are beyond Cogeco Cable's control. Therefore, future events and results may vary significantly from what management currently foresees. For more exhaustive information on these risks and uncertainties, prospective purchasers should refer to the risk factors described in the management's discussion and analysis of Cogeco Cable for the year ended August 31, 2010. Prospective purchasers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, Cogeco Cable is under no obligation and does not undertake to, update or alter this information at any particular time, except as may be required by law.FOR FURTHER INFORMATION PLEASE CONTACT: Advisor, Corporate CommunicationsCatherine Pleau(514) 764-4762