- Tucows Inc. (NASDAQ: TCX) (TSX: TC) announced it is buying Simply Bits. These are the details.
Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global provider of internet services, announced it has signed a definitive agreement to buy Simply Bits – which is the largest fixed wireless network service company based in Tucson, Arizona. And this acquisition will be made through Ting Internet, a leading fiber internet provider in the U.S. and a subsidiary of Tucows. This acquisition allows Ting to quickly enter the Southern Arizona market, leverage Simply Bits’ wireless expertise, and to build off of Simply Bits’ small but growing fiber footprint.
As part of the deal, Ting will assume all of Simply Bits’ existing infrastructure and customers, adding approximately 4,500 customers, 1,100 square miles of established fixed wireless network, and a small fiber-to-the-home footprint to Ting’s portfolio. And Ting will also retain Simply Bits’ employees, including senior management, with assistance and guidance from Simply Bits’ founding members.
Since founding in 2004, Simply Bits grew into a leading independent provider of internet, voice and other enhanced broadband solutions in the most populated areas of Southern Arizona, including Tucson, Marana, Vail, Oro Valley, Green Valley, Rio Rico, Sahuarita and Douglas. And over the past 17 years, Simply Bits has created a sophisticated and robust network and is well-positioned to serve more than 425,000 residences as well as enterprises, educational institutions and government agencies.
KEY QUOTE:
“This acquisition marks another milestone for Ting as we move into the large and growing Arizona market. This deal allows us to leverage an existing network with significant capacity, ultimately accelerating our growth. By building on Simply Bits’ decades-long service in Southern Arizona, we will have a platform to introduce Ting to the broader Pima, Pinal, Santa Cruz and Cochise County communities, and the team and resources to enter the market quickly.”
— Jill Szuchmacher, chief strategy officer and executive vice-president networks, Ting Internet
“The merging of Simply Bits wireless network with Ting resources and fiber deployments will benefit our current and future customers and allow them state of the art internet delivery options. We are excited to become part of the Tucows and Ting family, and continue to grow the business in both area and employment opportunities.”
— Bradley Feder, partner, Simply Bits
