Digital Colony, the American branch of the telecommunications infrastructure global company, Colony Capital, Inc., announced a strategic recapitalization of Beanfield Metroconnect. Beanfield is a Canadian infrastructure provider. The project also involved the acquisition of Aptum Technologies, a global hybrid cloud and managed services provider.
“Never before has Colony been in a better position to be, not only relevant, but I would say, mission-critical to how economies are going to function going forward,” said Marc Ganzi, CEO of Digital Colony Partners. “The digital roads and the digital real estate that we’re building today formed the foundation of where this company is going. The team has come together incredibly well. Today’s announcement is another sign of what’s to come.”
“In today’s environment, the need for connectivity has only grown as networks experience unprecedented demand,” said Beanfield CEO Dan Armstrong. “At Beanfield, we have always invested in building communities – not just networks. We expect our employees, customers and valued partners in Canada’s two largest regions will see numerous benefits from this strategic recapitalization as we expand our offerings and increase our investment in robust fiber networks.”
Beanfield will be able to use the infusion of capital to invest that C$255 million to improve Canadian telecommunications. Aptum capabilities will be put to work to enhance connectivity services and fiber solution opportunities in Toronto. Montreal will be the beneficiary of regional telecom fiber services facilitated by newly obtained provider, OpenFace Inc.
“Today’s recapitalization underpins our confidence in the continued opportunities for growth that result from the unrelenting focus on the customer experience and high quality services that are at the core of Beanfield’s business,” stated Steven Sonnenstein, Managing Director at Digital Colony.