Rogers Communications Finalizes Data Centre Sale Agreement
Overview of Rogers' Data Centre Sale
Rogers Communications Inc. has made a significant move in the tech and telecommunications industry by entering into an agreement with InfraRed Capital Partners. This decision marks the sale of Rogers’ portfolio of nine data centres.
Maintaining Service Continuity
Despite this transition, Rogers has committed to continuing its data centre services. They will ensure that network connectivity remains intact for businesses relying on these facilities. This move aims to reassure customers that service quality will not diminish as the ownership changes hands.
Financial Implications of the Deal
The proceeds from this sale will be directed towards paying down existing debt, reflecting Rogers’ strategic focus on improving its financial health. The transaction is part of a broader plan to offload real estate and non-core assets. By making this decision, Rogers aims to strengthen its balance sheet and enhance shareholder value.
About InfraRed Capital Partners
InfraRed Capital Partners is renowned for its expertise in digital infrastructure. As a part of the Sun Life group, they bring a wealth of experience to the table, ensuring a smooth transition post-sale. Both Rogers and InfraRed are dedicated to making this handover as seamless as possible for all customers.
Future Directions for Rogers
The transaction is anticipated to close by the end of 2025, pending regulatory approvals and customary closing conditions. It’s important to note that this agreement excludes corporate data centres utilized by Rogers for its internal operations and IT purposes. Thus, Rogers continues to maintain its critical infrastructure while exploring opportunities to optimize its asset portfolio.
Rogers Communications: A Leader in the Industry
As one of Canada’s leading communications and entertainment companies, Rogers provides a wide array of services beyond data centres, shaping the way Canadians connect with each other and the world. Its shares are publicly traded on both the Toronto Stock Exchange (TSX: RCI-A and RCI-B) and the New York Stock Exchange (NYSE: RCI).
Contact Information
For inquiries regarding investor relations or media, Rogers invites interested parties to reach out via the following channels:
Investor Relations: investor.relations@rci.rogers.com or call 1-844-801-4792.
Media Contact: media@rci.rogers.com or call 1-844-226-1338.
Frequently Asked Questions
What does the sale of the data centres mean for Rogers customers?
Rogers customers can expect a seamless transition as data centre services will continue without interruption even after the sale.
Who is InfraRed Capital Partners?
InfraRed Capital Partners is a financial services firm known for its experience in managing digital infrastructure.
What will Rogers do with the proceeds from the sale?
The proceeds from the data centre sale will primarily be used to pay down existing debt, aiding in the company’s financial optimization.
Is this transaction expected to impact Rogers' overall service?
No, this deal does not include corporate data centres, and Rogers assures that its service levels will remain consistent.
When is the transaction expected to close?
The sale is anticipated to finalize by the end of 2025, subject to regulatory approvals and other customary conditions.
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