Acquisition is the latest in a series of aggressive expansion moves by Canada's leading independent telecom
TORONTO, Sept. 7, 2016 /CNW/ - Distributel Communications Limited (Distributel), a leading provider of voice and data services for Canadians, today announces it has acquired Yak Communications from Globalive Capital.
"This transaction helps Distributel strengthen our multi-faceted telecom offerings by uniting two of Canada's best independent telecommunications companies, each with decades of experience, under the Distributel group of brands," says Matt Stein, CEO of Distributel. ""In this time of industry consolidation, we are constantly assessing key opportunities for growth. The acquisition of Yak Communications will greatly enhance our Digital Home Phone product, gives us access to key retail partnerships, and reinforces our position as Canada's leading independent telecom."
Since joining Distributel as CEO in 2014, Stein has championed a series of progressive changes for the company including, but not limited to: expanding the Distributel Internet footprint in Quebec; introducing Distributel TV; forging a new ExpressRoute partnership with Microsoft; and overseeing a series of key high-level hires from both within and outside the industry. Stein himself has also been making noise in the telecom industry with his recent appointment to the Canadian Network Operators Consortium Inc. (CNOC) Board as Vice-Chairman and National Spokesperson.
Yak Communications, a long-distance provider since the early 1990s, is being sold by diversified investment company and telecommunications operator Globalive Capital, the same communications and investment company that started WIND Mobile. Today's announcement will see Yak Communications join the Distributel suite of telecom brands which also includes ThinkTel, Acanac and Xinflix.
"We are happy that Yak customers will be given the opportunity to benefit from being a part of the Distributel network of broad telecommunications offerings," says Brice Scheschuk, Chief Executive Officer of Globalive. "At Globalive we focused on seeking the right partner to serve Yak's customers' evolving needs and know that they will continue to be well served in the future. We are happy that the strength of Distributel will allow Yak to join forces with a company that will continue to effectively compete against the dominant telecom players in Canada."
Yak Communications customers will now benefit from:
- A broader footprint (Distributel is a Competitive Local Exchange Carrier or CLEC)
- Access to a larger network and range of products
- Distributel advancing infrastructure investments including a fibre build in downtown Toronto
Distributel customers will now benefit from:
- Access to enhanced voice technology
About Distributel Communications Limited:
Distributel is a national telecommunications provider offering residential high-speed Internet, Television, Home Phone and Long Distance services at competitive prices in Quebec, Ontario, Alberta and British Columbia. Its business services brand, ThinkTel, offers complete IP-based phone, video-conferencing and data communications solutions. One hundred per cent Canadian owned, Distributel has grown to become Canada's leading independent Internet Service Provider. In operation since 1988, Distributel has a long history of being a pioneer of both the competitive Long Distance and Internet industries in Canada. It currently services more than 1,000 cities in Canada.
For more information, visit: www.distributel.ca
About Yak Communications:
Yak was founded in 1991 and acquired by Globalive Communications in 2006. Yak was one of the first entrants to Canada's competitive communications market and has always provided Canadian consumers with great services at a fair price. Yak is continuously evolving its product line to expand coverage and bring its transparent, no-contract, no hidden fee services to more customers.
For more information, visit: www.yak.ca
About Globalive Capital:
Globalive Capital is the investment company of Anthony Lacavera and his team including Brice Scheschuk, Simon Lockie and David Roff. The partners have a combined 80 years of operating and investing experience and have founded or co-founded and operated 13 companies including WIND Mobile, which was sold to Shaw Communications for $1.6 billion. Globalive Capital invests principal capital in multiple asset classes including venture, private equity, real estate and infrastructure. The company has made over 75 investments and is well-known as a strategic, entrepreneur friendly investor. For more information, please visit www.globalive.com.
SOURCE Distributel Communications Limited
For further information: Media Contact: Laura Cochrane, LexPR Canada, 416-542-9140 x3361, [email protected]