Primus Telecommunications Canada Inc, which sought and obtained creditor protection earlier this month, has agreed to be bought by Birch Communications Inc, a U.S.-based provider of IP-based communications, broadband, cloud and IT services. No financial terms were disclosed. Founded in 1997, Etobicoke, Ont.-headquartered Primus is a telecommunications service provider in the domestic market. It was acquired by U.S. private equity firm York Capital Management in a US$129 million deal in May 2013.
Primus announces an agreement to be acquired by Birch Communications
TORONTO, JAN 21, 2016 – We’re pleased to announce that we’ve entered into an agreement to be acquired by Birch Communications. In order to complete the sale of our business and assets to Birch, we’ve commenced a restructuring process that must be approved by the courts over the coming weeks. We’re excited about the combined company which will provide a broader array of services at prices designed to best serve Primus customers and we’ll continue to offer a strong competitive choice in the marketplace.
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