ARC, Partners Bring High-Speed Broadband to Canadian Business
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[Toronto, CANADA] Allied Riser Communications Corporation (ARC) has acquired a 68 percent stake in Shared Technologies of Canada (STOC), and will begin bringing high- speed, IP-based broadband applications and services to businesses across Canada.
The Great-West Life Assurance Company also came on board in the transaction, joining three of North America's premiere real estate companies already participating: Bentall Corporation, Cadillac Fairview and O&Y Properties Corporation.
The real estate companies plan to provide ARC's value-enhanced services to their tenants and clients."
ARC's four partners committed at closing to give ARC access to more than 35 million square feet of prime commercial office space in Canada.
ARC is a major U.S. based Integrated Communications Provider, delivering high-speed broadband Internet data, video and voice services and applications to businesses of all sizes located in commercial office buildings.
It delivers its services via the ARC LightSpeed Network which provides customers with a direct "always-on" connection to the Internet at speeds up to six times faster than DSL or T-1 lines.
"This is an important first step in our plans to become a leading provider of broadband services to businesses around the world," said David Crawford, ARC's chief executive officer.
"ARC has now positioned itself to become a major player in the delivery of broadband services and applications in cities across Canada."