Reuters: Technology News: Cogeco Cable to buy PEER 1 for $532 million to boost cloud computing

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Cogeco Cable to buy PEER 1 for $532 million to boost cloud computing Dec 21st 2012, 12:19 Fri Dec 21, 2012 6:52am EST (Reuters) - Cogeco Cable Inc, a Canadian company that serves mostly rural customers in Ontario and Quebec, said it will buy PEER 1 Network Enterprises Inc for about C$526 million to expand its cloud computing and data hosting services. Montreal-based Cogeco, which provides cable-TV, high-speed internet and telephone services, offered C$3.85 for each PEER 1 share. The offer is at a premium of 30.5 percent to PEER 1 stock's Thursday close.

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