Canada’s Globalive Capital – until recently the owner of cellco Wind Mobile – has sold its other main telecoms assets, namely long-distance voice provider Yak Communications, SME-focused communications operator OneConnect Services and hospitality communications provider Canopco for undisclosed prices. Yak Communications has been acquired by Distributel Communications, a Canadian provider of voice and data services. OneConnect Services and Canopco have been acquired by Accelerated Connections (ACI), a provider of private IP connectivity and public internet services to businesses in Canada.
Anthony Lacavera, founder and chairman of Globalive Capital, said: ‘As a Canadian investment firm with a global focus, my team and I look forward to re-investing the proceeds of the sales of these assets into the most promising new ventures both in Canada and internationally.’ Earlier in 2016, Globalive Capital announced the formation of a CAD100 million (USD78 million) fund dedicated to investments of between CAD1 million and CAD5 million. Globalive and its investment partners sold Wind Mobile to cableco Shaw Communications for CAD1.6 billion in March.
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 remained focused on value-for-money ‘transparent, no-contract, no hidden fee’ calling services. Founded in 2003 by Globalive, OneConnect is a hosted VoIP company as well as a provider of integrated voice, network, collaboration and cloud services, serving over 5,000 businesses across Canada and offering customised solutions for a number of key industries including hospitality, retail and franchise, security, real estate and medical. Canopco claims it is the choice of 80% of the hospitality telecommunications market, ‘serving thousands of properties around the world’.