- Rogers said deal will allow it to undertake the investments required to build a comprehensive and reliable 5G network to the entire TTC subway system
- Australia’s BAI is backed by CPP Investments, Alberta Investment Management Corp and Manulife Investment Management
- CPP Investments has been a majority shareholder of the company since 2009
Rogers Communications has agreed to acquire BAI Communications’ Canadian operations (BAI Canada), which held the exclusive rights to build the Toronto Transit Commission’s wireless network since 2012.
The deal, the terms of which were not released, is expected to close in the next two weeks, subject to conditions.
Rogers, a Toronto-based wireless, cable and media company, said the deal will allow it to undertake the investments required to build a comprehensive and reliable 5G network to the entire TTC subway system.
“We know safety is top of mind for Torontonians. Residents and visitors expect wireless connectivity when they’re travelling on the TTC’s subway system,” said Ron McKenzie, Rogers’ chief technology and information officer, in a statement. “The agreement to acquire BAI Canada is a significant first step in modernizing and expanding the existing network to deliver enhanced 5G wireless service to millions of transit riders throughout the entire subway system in Canada’s largest city. As the country’s biggest investor in 5G with Canada’s largest 5G network, Rogers is proud to be making these investments to deliver world-class connectivity for Torontonians.”
BAI Communications, a Sydney, Australia-based shared communications infrastructure provider, is backed by Canada Pension Plan Investment Board (CPP Investments), Alberta Investment Management Corp and Manulife Investment Management.
CPP Investments has been a majority shareholder of the company since 2009. Last year, the pension system said it held an 86 percent stake and had to date committed about C$3 billion.
CPP Investments, headquartered in Toronto, is an investment management organization that manages Canada Pension Plan’s fund. The fund totalled C$536 billion as on 31 December 2022.