Internet service provider (ISP) Beanfield Metroconnect announced its acquisition of FibreStream on Jan. 25
FibreStream chiefly operates in Toronto, Ottawa and Vancouver. Its service offerings closely align with Beanfield Metroconnect’s residential business; both deploy fibre internet and home phone services to condominiums and residential buildings. In certain areas, FibreStream offers up to 5Gbps speeds suited for enterprise settings.
The acquisition bolsters Beanfield Metroconnect’s recent expansion into Ottawa and lays its roots in Vancouver.
Fibrestream’s home page reports that it’s currently servicing more than 99,000 condos in its service areas. Beanfield Metroconnect currently services 2,900 commercial and residential buildings. The acquisition will not affect customers’ service plans or pricing for either company.
“We believe that coming together with FibreStream is an important milestone in our continued focus on building the network of the future,” said Dan Armstrong, chief executive officer of Beanfield Metroconnect. “This further strengthens our position to offer our customers with reliable high-speed connectivity as Canadians continue to work remotely and can benefit from the quality of service that both of our customer bases have come to expect.”
Beanfield said it plans on bringing its network offerings to FibreStream customers in the future. The company told the publication in an email statement that this may take some time as it builds out its networks.
Jason Cowan, the current CEO of FibreStream, will become the vice-president of Beanfield Metroconnect Residential following the merger.