It has hired bankers and launched a formal sale process, says sources familiar with the discussions
  • shamrt@lemmy.caOPEnglish
    1·
    1 year ago

    I’ve been with Teksavvy for nearly 15 years. This is a sad, sad day.

    • kakes@sh.itjust.worksEnglish
      1·
      1 year ago

      I’ve been with them for nearly 10 years now. Stuck with them out of principle even though the speed/price weren’t as good as I could get elsewhere.

      This seriously sucks, I’m so tired of a small handful of corporations owning every aspect of my life.

  • lightrush@lemmy.caEnglish
    1·
    1 year ago

    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.