TORONTO – Today Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global provider of internet services, announced that it has signed a definitive agreement to acquire Simply Bits, the largest fixed wireless network service company based in Tucson, Arizona.
This acquisition will be made through Ting Internet, a leading fiber internet provider in the U.S. and a subsidiary of Tucows. This purchase allows Ting to quickly enter the Southern Arizona market, leverage Simply Bits' wireless expertise, and to build off of Simply Bits' small but growing fiber footprint.
As part of this deal, Ting will assume all of Simply Bits' existing infrastructure and customers, adding approximately 4,500 customers, 1,100 square miles of established fixed wireless network, and a small fiber-to-the-home footprint to Ting's portfolio. Ting will also retain Simply Bits' employees, including senior management, with assistance and guidance from Simply Bits' founding members.
Since founding in 2004, Simply Bits has grown into a leading independent provider of internet, voice and other enhanced broadband solutions in the most populated areas of Southern Arizona, including Tucson, Marana, Vail, Oro Valley, Green Valley, Rio Rico, Sahuarita and Douglas. Over the past 17 years, Simply Bits has created a sophisticated and robust network and is well-positioned to serve more than 425,000 residences as well as enterprises, educational institutions and government agencies.
The acquisition is subject to regulatory approvals and other customary closing conditions and is expected to close in the fourth quarter of 2021.
Harris, Wiltshire & Grannis, LLP served as legal counsel to Tucows in connection with the transaction. Cowen and Company, LLC served as exclusive financial advisor to Simply Bits in the transaction and Morgan, Lewis & Bockius, LLP served as legal counsel.
To learn more about Ting Internet, its services, or the areas in which it operates, please visit ting.com/internet.