TORONTO, Nov. 9, 2018 /CNW/ - TeraGo Inc. ("TeraGo"
or the "Company") (TSX: TGO, www.terago.ca), today announced
that TeraGo Networks Inc., a wholly-owned subsidiary of TeraGo has
closed its previously announced acquisition of Mobilexchange
Spectrum Inc. ("Mobilexchange") and Mobilexchange Spectrum
Holdings Inc. for aggregate cash consideration of $5.7 million.
Mobilexchange is the holder of six 24 GHz spectrum licences in
Calgary, Edmonton, Montreal, Ottawa, Toronto and Vancouver. The deemed transfer of each of the
six licences received regulatory approval by Innovation, Science
and Economic Development Canada ("ISED") on November 1, 2018.
About TeraGo
TeraGo owns a national spectrum portfolio of exclusive 24GHz and
38GHz wide-area spectrum licences including 2,120 MHz of spectrum
across Canada's 6 largest cities.
TeraGo provides businesses across Canada and internationally with cloud,
colocation and connectivity services. TeraGo manages over 3,000
cloud workloads, operates five data centres in the Greater Toronto Area, the Greater Vancouver Area, and Kelowna, and owns and manages its own IP
network. The Company serves over 3,000 business customers in 46
major markets across Canada
including Toronto, Montreal, Calgary, Edmonton, Vancouver and Winnipeg. TeraGo Networks is a Competitive
Local Exchange Carrier (CLEC) and was recognized by IDC as a
Major Player in MarketScape Cloud
Vendor Assessment. TeraGo Networks was also selected as one of
Canada's Top Small and Medium
Employers for 2017.
For more information about TeraGo, please visit
www.terago.ca.
SOURCE TeraGo Inc.