Cogeco to Buy Web Outfit for Biz Services

Cogeco Cable (TSX:CCA) and PEER 1 Network Enterprises (TSX:PIX) have entered into an agreement under which Cogeco Cable has agreed to acquire all of the issued and outstanding shares of PEER 1 for $3.85 in cash per share. The acquisition is intended to increase the scale and reach of Cogeco's IT hosting business with an expanded suite of network and hosting services, particularly to small and medium sized businesses.PEER 1 is an Internet infrastructure provider specializing in managed hosting, dedicated servers, cloud services and colocation. PEER 1 has 19 data centers and 21 points-of-presence across North America and Europe. Its primary network center and headquarters are located in Vancouver, Canada.