RackForce Networks Inc., Canada’s largest Enterprise Cloud service provider is selling 100% of its outstanding shares to TeraGo Networks Inc., a Canadian national provider of end-to-end data solutions for $31 million (CA). Rackforce will also sell TeraGo $2 million of common shares.
TeraGo will become Canada’s leading provider of enterprise cloud solutions after the acquisition.
“The RackForce acquisition provides TeraGo with a growth platform in the attractive cloud services industry,” said Stewart Lyons, President and CEO of TeraGo, in a press release last Thursday. “Rackforce will complement our business and transform TeraGo into Canada’s premier enterprise-class network, data, voice, and cloud services provider.”
Rackforce has been a leading advocate of cloud adoption in Canada and was named VMware Cloud Partner of the Year for 2014.
The deal is expected to close on March 27, 2015.
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Jeff Edwards
Jeff Edwards is an enterprise technology writer and analyst covering Identity Management, SIEM, Endpoint Protection, and Cybersecurity writ large. He holds a Bachelor of Arts Degree in Journalism from the University of Massachusetts Amherst, and previously worked as a reporter covering Boston City Hall.
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