[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.
Collectively they own, control and/or manage in excess of 70 million
square feet of commercial office space across 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.”