Cogeco Peer 1 set to expand after being sold for US$720m

News and Business

Cogeco Peer 1 is to become a standalone managed hosting, cloud and colocation provider after Canadian parent and telco Cogeco Communications sold it to global investment firm Digital Colony for US$720m.

The new owners have pledged to keep the existing management team in place, while leasing portions of Cogeco Communications’ fibre optic network for data centre interconnection in Canada.

Cogeco Peer 1 will remain headquartered in Toronto and will adopt a new brand. Its portfolio includes over 3,300 route kilometres of dense metro fibre in greater Toronto and Montreal. The company also owns and operates several data centres across North America and Europe which serve a global blue-chip customer base.

As a standalone business, Cogeco Peer 1 will have a fibre division and a data centre division in order to focus on meeting the needs of customers in each market, it said. The firm’s data centre division will concentrate on enabling multi-cloud services for enterprises, while “reinforcing its role as a leading hybrid-solutions managed service provider”, Cogeco Peer 1 said.

Susan Bowen, CEO of Cogeco Peer 1, said: “As we enter our next phase of growth as a standalone company, we will continue to focus on meeting the needs of customers while looking for new ways to innovate and deliver the digital infrastructure solutions they need.”

Marc Ganzi, managing partner of Digital Colony, said: “We look forward to investing in the company, the team and the network assets to continue to build the business and unlock value by providing exceptional solutions to their customers.”

The transaction is expected to close during the second quarter of 2019.


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