Cogeco Transaction will Strengthen iTéract’s Presence in all its Markets
Lac-Brome, Qc, April 23rd, 2020 / iTéract Inc. a leading provider of telecommunications services in the southern province of Québec, today announced that it has entered into an agreement to be acquired by Cogeco Communications Inc.
Commenting on the transaction, iTéract’s founder Mr. Richard L’Abbé indicated “this is an excellent news for iTéract and in particular for Internexe customers of the Eastern Townships, as well as of the Montérégie and Beauce regions. This acquisition speaks to the high quality of the iTéract staff and of its network and operations. It also bodes very well for the future of the company and for its expanding clientele.”
“iTéract /internexe has been connecting people and businesses for over 15 years, using some of the latest technologies, fibre optic and wireless technologies including Long-Term Evolution (LTE). These substantial investments coupled with Cogeco’s expertise will open up even more possibilities for our subscribers.” said Richard L’Abbé.
The transaction includes the transfer of fifteen (15) exclusive 3.5 GHz spectrum licenses to Cogeco. The transfer of the spectrum licenses was approved by Innovation, Science and Economic Development (ISED) Canada earlier today. Cogeco is also taking ownership of iTéract/internexe building located in Knowlton, Lac-Brome. The iTéract/internexe team remains in place and will continue to offer a professional and dedicated service.
Montreal-based Lemay-Yates Associates inc. (‘LYA’) conducted the process on behalf of the seller and served as strategic and financial advisor to iTéract inc. LYA also provided regulatory expertise supporting iTéract leading to the successful conclusion of this process.
Mr. Richard L’Abbé
Founder and President
496 Knowlton Road
Lac-Brome, Qc, J0E 1V0
450 442 3233