Carrier Connect Data Solutions Inc. (TSX.V:CCDS OTCQB:CCDSF; WKN:A40XB1) announced Thursday that it has entered into a definitive share purchase agreement to acquire all issued and outstanding securities of PureColo Inc., an established provider of carrier-neutral data centers in Ottawa, Canada. The acquisition marks a strategic expansion for Carrier, which now operates four data centers across three regions, including existing facilities in Vancouver and Perth, Australia.
Under the terms of the agreement, Carrier will issue an aggregate of 4,606,704 common shares to PureColo securityholders, subject to escrow conditions releasing one-third at each of the four, eight, and twelve-month milestones following closing. Additionally, PureColo securityholders will receive cash consideration of approximately $2,326,000, payable over nine months and subject to adjustment based on debt covenants.
PureColo, which services about 60 customers across its two data centers on Riverside Drive and March Road in Ottawa, specializes in colocation and server hosting for internet connectivity, geographical redundancy, and disaster recovery. The company’s unaudited 2025 revenue is forecast at approximately CAD $2.35 million based on current run rates, with gross profit of about $1.13 million (48%) and operational expenses of $1 million. Revenue growth is tracking at 28% year-over-year, and PureColo is EBITDA positive, with $3.5 million in property, plant and equipment and $3.7 million in total assets.
Rainer Paduch, Chief Executive Officer of PureColo, noted that the due diligence process has progressed well, indicating a smooth integration. He highlighted opportunities for Carrier’s existing data centers and an uptick in mid-market AI opportunities that fit well into both companies’ facilities, which should drive significant revenue going forward.
Carrier’s CEO Mark Binns expressed enthusiasm about adding PureColo’s Ottawa-based data centers to the portfolio, stating that the acquisition provides more space to offer existing and prospective customers while continuing to accumulate capacity through ongoing acquisitions. “PureColo gives us more space to offer our existing and prospective customers while we continue to accumulate further capacity through ongoing acquisitions,” Binns said.
The transaction was negotiated at arm’s length, with no finders fees or other commissions payable. Completion is subject to customary closing conditions, including approval from the TSX Venture Exchange. Carrier Connect Data Solutions focuses on acquiring Tier II/III data centers internationally that deliver colocation solutions to AI companies, service providers, enterprises, and small businesses. As a carrier-neutral organization, Carrier’s systems are fully independent and owned outright within its leased space.
This acquisition aligns with Carrier’s mission to roll up data centers internationally and positions the company to capitalize on growing demand for colocation services, particularly in the mid-market AI segment. The addition of PureColo’s Ottawa facilities strengthens Carrier’s presence in the Canadian market and provides expansion capacity.
View the original release on NewMediaWire.
