Carrier Connect Data Solutions Signs Non-Binding LOI to Buy Rochester Data Center Assets from Rochester Colo
Carrier Connect Data Solutions (CCDS.V) on Tuesday said it entered into a non-binding letter of intent (LOI) with Rochester Colo LLC to buy the principal operating assets of Rochester Colo's data center business in Rochester, New York. No financial details were given.The company said the proposed acquisition is expected to provide an immediate operating foothold in the U.S. market and expand its ability to serve customers requiring secure, scalable and regionally resilient infrastructure. Carrier believes the deal would create a "strong foundation for future growth in the northeastern United States".The parties agreed to negotiate and execute a definitive purchase agreement for the proposed acquisition. Carrier said the consideration is expected to include a combination of cash and shares, with the share component subject to staged escrow release following closing.It said the parties, who are at arm's length, are working toward execution of a definitive agreement on or before June 15, with closing expected shortly thereafter, subject to certain terms.Shares of the company were last seen down $0.01 to $1.20 on the TSX Venture Exchange.Price: $1.20, Change: $-0.01, Percent Change: -0.83%
