RackForce Networks, a Canadian enterprise cloud provider that services national and global clients, has entered into a definitive share purchase agreement with TeraGo, a national provider of end-to-end data solutions.
Kelowna-based RackForce will be acquired for $33 million, including $31 million in cash.
RackForce’s GigaCenter in Kelowna increases TeraGo’s data centre footprint from 40,000 to 58,000 square feet of raised floor space and available power from 6MW to approximately 13MW.
“The RackForce acquisition provides TeraGo with a growth platform in the attractive cloud services industry and helps further position TeraGo as a leading national end-to-end data solution company,” says TeraGo’s President and Chief Executive Officer Stewart Lyons. “RackForce will complement our business and transforms TeraGo into Canada’s premier enterprise class network, data, voice and cloud services provider.”
The Acquisition is expected to close on March 27.