Rogers Spends $416 Million For Atria

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Canadian Media company Rogers Communications has acquired Atria Network, the owner and operator of one of Ontario's largest fiber-optic networks for $C425 million ($416 million) in cash from Birch Hill Equity Partners.

Rogers, which is a major cable TV, wireless, broadband, TV broadcasting, print and radio player in Canada, plans to use the fiber optic company to expand its business services offering.

Rogers hopes to close the deal, which is subject to regulatory approval, prior to the end of its first quarter 2011.

Atria currently serves about 1,100 customers and its network includes 5,600 fiber route kilometers and over 3,800 on-net buildings in high growth areas of Canada like Ottawa.

Read more at B&C here.