Strategic acquisition of established network opens new market opportunities for Ting in Arizona
TORONTO, Oct. 18, 2021 /PRNewswire/ - Today Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global provider of internet services, announced that it has signed a definitive agreement to acquire Simply Bits, the largest fixed wireless network service company based in Tucson, Arizona.
This acquisition will be made through Ting Internet, a leading fiber internet provider in the U.S. and a subsidiary of Tucows. This purchase 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 this 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. Ting will also retain Simply Bits' employees, including senior management, with assistance and guidance from Simply Bits' founding members.
"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," said Jill Szuchmacher, chief strategy officer and executive vice-president networks, Ting Internet. "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."
Since founding in 2004, Simply Bits has grown 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. 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.
"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," said Bradley Feder, partner, Simply Bits. "We are excited to become part of the Tucows and Ting family, and continue to grow the business in both area and employment opportunities."
The acquisition is subject to regulatory approvals and other customary closing conditions and is expected to close in the fourth quarter of 2021.
Harris, Wiltshire & Grannis, LLP served as legal counsel to Tucows in connection with the transaction. Cowen and Company, LLC served as exclusive financial advisor to Simply Bits in the transaction and Morgan, Lewis & Bockius, LLP served as legal counsel.
To learn more about Ting Internet, its services, or the areas in which it operates, please visit ting.com/internet.
About Simply Bits:
Simply Bits, headquartered in Tucson, Arizona is committed to creating Southern Arizona's best wired and wireless network for delivery of Internet access, voice, fax and other enhanced broadband applications and solutions. This sophisticated network allows Simply Bits to serve residences as well as small, medium, and large businesses, educational institutions, and government agencies. Our customer base represents diverse industries including healthcare, financial, legal, insurance, automotive, hospitality, real estate and more. More information can be found on Simply Bits website: www.SimplyBits.com
Tucows is a provider of network access, mobile technology services, domain names, and other internet services. Ting Internet delivers fixed fiber internet access with outstanding customer support. Tucows' mobile services enabler (MSE) platform provides network access, provisioning, and billing services for mobile virtual network operators (MVNOs). OpenSRS, Enom, and Ascio combined manage approximately 25 million domain names and millions of value-added services through a global reseller network of over 36,000 web hosts and ISPs. Hover makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows' corporate website: https://tucows.com.
Tucows, Ting, OpenSRS, Enom, and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
About Ting Fiber Inc.:
Ting Internet provides Crazy Fast Fiber Internet® in select U.S. towns and cities. Ting is committed to net neutrality and the Open Internet. More than that, Ting Internet is committed to being a part of improving the communities it serves by supporting and championing local good works. Ting Internet sponsors local programs, events, foundations, festivals, charities, and public services everywhere we go, investing in the future of the towns we serve.
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SOURCE Tucows Inc.