Sudbury-based Vianet has finalized a deal to purchase Zing Networks, a Wireless internet Service Provider with over 100 antenna sites covering 7500 square km of south-central Ontario.
Zing is based in Schomberg, centrally located between Toronto and Barrie, and provides fixed wireless internet service to communities and areas north of Toronto. It serves non-urban areas surrounding communities like Orangeville, Bolton, Alliston (New Tecumseth), Bradford, Newmarket, WhitchurchStouffille, Uxbridge, Port Perry and Barrie.
In conjunction with the Zing acquisition, Vianet is investing $4 million over the next 12 months in new fibre optic cable construction and wireless network upgrades throughout the current Zing territory.
This latest Vianet acquisition is the first that puts the company firmly in the southern Ontario market. "We are very excited about this deal," says Vianet President Will Gasteiger, "It accelerates Vianet's current growth while staying true to our commitment of providing specialized connectivity solutions to under-served regions of Ontario -- ensuring that people in these communities have the same quality of Internet as large cities -- if not better."
Vianet has more than two decades of expertise bringing high-quality telecommunications to a mix of urban, rural and remote communities.
Vianet provides high-speed internet, HD television, and telephone service as well as a full range of data services for businesses. It has over 100 employees and serves customers throughout Ontario. Over the years, Vianet has grown through both acquisition and by focusing on building its own fibre and wireless infrastructure to meet customer demand.
"This is just a perfect fit for us, for Zing, and -- most importantly -- for the customers," says Gasteiger. "Zing has a great reputation with its clients and we believe Vianet can help take that service to the next level. Vianet has a lot of experience with acquiring companies and taking the best of both operations to build a better organization. We are looking forward to this opportunity and becoming a part of these communities."
Vianet will formally take over providing service and billing on July 1st.
Financial details of Vianet's latest acquisition are not being disclosed.