TekSavvy puts itself up for sale amid industry turmoil
TekSavvy puts itself up for sale amid industry turmoil
It has hired bankers and launched a formal sale process, says sources familiar with the discussions
TekSavvy is the last remaining large internet wholesale provider, as others have been snapped up by bigger rivals in what independent ISPs describe as a challenging regulatory environment.
Roughly half a dozen independent ISPs have been sold since February of 2022. According to BMO Capital Markets analyst Tim Casey, BCE Inc. paid roughly $139-million for Ebox, an internet, telephone and television service provider based in Longueuil, Que., and approximately $335-million for Ottawa-based Distributel last year.
Telus, meanwhile, acquired Altima Telecom and Start.ca for undisclosed amounts, while Quebecor Inc. snapped up VMedia, an independent internet and television provider serving customers primarily in Toronto, in July of 2022. The price of the VMedia acquisition was also not disclosed.
Montreal-based Cogeco Inc., meanwhile, paid $100-million for Oxio, a Montreal-based provider with 48,000 internet subscribers, Mr. Casey wrote in a research note..
🤦🤦♀️🤦🏼♂️
Sent an email to my MP. This is a competition issue similar to the Shaw sale to Rogers and the feds should get involved. You should do the same.
More and more convinced that independent ISPs aren’t around to “stick it to the man”, they’re around to last until they get gobbled up and make money for the owners.
Need to develop some ISP co-ops with governing rules that actively prevent any takeover, or sale to another company.
Not sure why you are being downvoted. Your idea of a co-op ISP is something I've been wanting to see happen for a while.
I pissed off some mainlanders and they’ve been downvoting my comments. Oddly enough it actually gets my posts more attention. lol.