Digital Colony acquires Beanfield Technologies
Digital Colony, the global digital infrastructure investment platform of Colony Capital, has announced the Digital Colony Partners' acquisition of Beanfield Technologies.
Beanfield Technologies is a bandwidth infrastructure provider in Canada serving the enterprise, carrier and multi-dwelling units markets.
"Beanfield's network connects to virtually all of Toronto's major commercial buildings, apartment complexes and data centres, and the company serves some of the largest and highest value customers in the Canadian market," said Steven Sonnenstein, a managing director at Digital Colony. "The company's executive team, led by founder and CEO Dan Armstrong, has done a fantastic job creating a leading, Tier 1-market bandwidth provider that is primed to capitalise on an evolving Canadian telecommunications market. As the region's MNOs look for new and shared infrastructure solutions, we are excited to support Beanfield and help the company continue to grow."
Though no details of the transaction have been given, Digital Colony now adds Beanfield’s portfolio to its business. This includes 366km of pervasive and dense metro fibre infrastructure in Toronto and Montreal and over 76,000 strand kilometres of fibre infrastructure. The company also has 541 on-net locations, including 367 commercial locations, 161 MDUs and 13 data centres.
"As our customers require more bandwidth and faster speeds, our goal is to not only meet their increasing needs, but also find new ways to support them with access to additional resources and Digital Colony's vast experience in indoor and outdoor small cells," said Armstrong. "We are extremely happy to partner with Digital Colony. Their support, guidance and sector expertise will be key assets as we enter new markets and verticals, and broaden our carrier, commercial and large-scale residential customer base."