NOVA Infrastructure has acquired a majority interest in telMAX Inc., an owner and operator of fiber-based telecommunications infrastructure serving the suburban regions of the Greater Toronto Area. Financial terms were not disclosed.
telMAX will use this investment to build a 100 percent fiber-to-the-home network in select suburban markets within the GTA. telMAX has already commenced pre-build activities for its first delivery areas and expects to serve its first customers in the second quarter of 2021.
“We believe that telMAX is well-positioned to capitalize on strong market trends resulting in the growing demand for data,” said Chris Beall, managing partner of NOVA. “These include the proliferation of work-at-home and video streaming services which require faster and more reliable upload speeds.”
Investment holding and operating company Quintana Infrastructure & Development worked with NOVA Infrastructure to secure the acquisition.