Apparently so. As far as I can tell it’s still a rumour, although a rumour confirmed by a few sources. I’ve got an email out to Rogers this morning asking for confirmation and I have yet to hear back. In the mean time, Blink has grown into a reasonably sized facility carrier operating as a subsidiary of Oakville Hydro. Blink purchased Milton Hydro Telecom in 2008, and Mississauga’s Hydro Telecom assets in 2006. Blink has been on an rapid expansion path as of late. They are nimble, aggressive, and competitive. Rogers is getting an amazing asset, now the question is (if this is true anyway), can they keep the momentum going.
More: I just received the following back from Rogers: Rogers has entered into an agreement to purchase Blink, a wholly owned subsidiary of Oakville Hydro. The acquisition is expected to close on January 29, 2010.
They couldn’t provide more details just yet but I will fill in more info as I receive it.
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Oakville Hydro sells Blink Communications
From the Oakville Hydro newsroom
January 29, 2010 – For immediate release
Oakville Hydro Corporation announced today that it has sold its wholly owned telecom subsidiary, Blink Communications Inc. (Blink), to Rogers Communications Inc. for an undisclosed amount.
Blink Communications provides business data and internet services to customers in Toronto, Mississauga, Oakville, Milton, Burlington, Ajax, Pickering, Bowmanville, Port Hope, and Belleville.
“Oakville Hydro has been very successful in developing Blink Communications over the past decade,” said Oakville Hydro Board Chair Gary Burkett. “Rogers can now bring the capital resources and expertise required to continue to grow the business to meet the needs of Blink’s customers.”
Burkett noted that the Board had taken the opportunity to grow the value of Blink by expanding it well beyond Oakville’s borders but that the resources required for further growth were beyond its capacity.
“Our strategic focus is on providing safe, affordable electricity and developing renewable energy solutions to meet the needs of the residents of Oakville.”
CIBC World Markets served as financial advisors and Blake, Cassels & Graydon LLP were legal advisors to Oakville Hydro for the sale.
Oakville Hydro will report to Oakville Town Council on the fiscal and after tax results from the sale in the second quarter of this year.
About Blink Communications
Blink Communications delivers cost-effective, fibre-based high bandwidth services for some of the largest organizations throughout North America. With approximately 1,300 km of routed fibre, Blink Communications network allows fast, simple bandwidth changes that grow with end user requirements and delivers optimal up time for mission-critical applications.