Beanfield Acquires Vancouver-Based Urbanfibre
Continues rapid expansion of fibre footprint into Canada's West Coast
[Urbanfibre customers will not see any immediate changes to the services as a result of this transaction]
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TORONTO, July 28, 2022 (GLOBE NEWSWIRE) --
Beanfield, owner and operator of the largest independent fibre-optic network in Toronto and Montreal, today announced the acquisition of Urbanfibre, a leading fibre provider operating in the Greater Vancouver Area. This acquisition is part of Beanfield's ongoing commitment to expanding its residential and commercial network and service offerings across Canada's major metropolitan areas and, along with its recent acquisition of FibreStream, carves out a path for a stronger and more resilient communications network on the West Coast.
"We're excited to welcome Urbanfibre to our family. They share our values and goal of supporting and providing communities with reliable, fibre-optic connectivity at competitive prices," says Dan Armstrong, CEO/CTO at Beanfield. "We believe that joining with Urbanfibre is another important step in our continued focus on building the communications network of the future. It further strengthens our position to offer business and residential customers top-of-class connectivity as Canadians continue to work in a hybrid world and bandwidth needs and speeds increase."
Through the acquisition of Urbanfibre, the two companies will grow stronger together as each team is able to share its expertise and resources. Beanfield plans to further expand its fibre network in the Greater Vancouver Area to better address the connectivity needs of both existing Beanfield as well as Urbanfibre customers. For the time being, Urbanfibre will continue to operate as Urbanfibre and customers will not see any changes to their plans or pricing on the existing network.
"We're thrilled to join Beanfield," says Jon Paul Janze, CEO at Urbanfibre. "It was clear from early in our discussions that the history and values of the two companies aligned. We share a similar approach and emphasis on incredible customer service, embracing innovation and are community focused. By joining forces, we'll be able to build on our rich histories and expand our offerings. This will ensure true competition and network resiliency is available across the Greater Vancouver Area."
Together, Beanfield and Urbanfibre are helping to connect communities by challenging the traditional model of telecom in Canada. By putting communities first, thinking and designing differently, and embracing the fast pace of innovation, they are committed to changing the way connectivity is delivered to the residents and businesses of the Greater Vancouver Area.
About Beanfield Metroconnect
Beanfield is a telecommunications company unlike the rest. We recognize the importance of connecting communities and the people within them, and we do this without sacrificing outstanding customer support and superior services. At Beanfield, it's about building communities, not just networks.
Founded in 1988, Beanfield builds, owns and operates the largest independent fibre-optic network in Toronto and Montreal. We connect over 3,000 commercial and residential buildings. All of our construction, installation, and customer experience teams are in-house, giving you the most efficient and streamlined experience possible because we believe that's How it Should Be.
www.beanfield.com
About Urbanfibre
Founded in 1988, Urban Communications Inc. is a full-service telecommunications company with a private fibre network delivering service to commercial, residential and public sector customers under the Urbanfibre brand. The Company's fibre optic network covers more than 210 kms across Southern British Columbia and was overbuilt to meet the exacting and mission critical needs of public sector, emergency services and enterprise customers. They are proud to have built a fibre network to support the Province of BC, Metro Vancouver, City of Vancouver, City of Coquitlam, BCNet and many others.
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