Globalive Capital, a Canadian technology investment firm chaired by former Wind Mobile head Anthony Lacavera, has sold telecommunications companies Yak Communications and OneConnect Services. Yak was acquired by Distributel Communications Ltd, while OneConnect and its affiliate Canopco went to Accelerated Connections Inc. No financial terms were released. Globalive said the deals facilitate its plan to invest in new technology ventures and expand its global footprint. The Toronto-based firm launched a $100 million early-stage venture capital fund in early 2016.
Photo: Anthony Lacavera, chairman of Globalive Capital.
Globalive Capital announces the sale of Yak Communications, OneConnect Services Inc. and Canopco
Leading investment firm looks to the next generation of technology ventures and to expand global footprint
TORONTO, Sept. 7, 2016 /CNW/ – Globalive Capital Inc. said today it has sold telecommunications companies Yak Communications and OneConnect Services Inc., as well as its Canopco division, a hospitality communications provider, in two separate transactions.
Yak Communications, a long-distance provider, has been acquired by Distributel Communications Limited, a leading Canadian provider of voice and data services. OneConnect Services and Canopco have been acquired by Accelerated Connections Inc. (ACI), a provider of private IP connectivity and public internet services to businesses in Canada.
“Yak Communications, OneConnect Services and Canopco have been an important part of Globalive Capital’s portfolio and brands that are an integral part of our company’s heritage,” said Anthony Lacavera, Founder and Chairman of Globalive Capital. “As a Canadian investment firm with a global focus, my team and I look forward to re-investing the proceeds of the sales of these assets into the most promising new ventures both in Canada and internationally.”
The sale of Yak Communications, OneConnect Services and Canopco fits into Globalive Capital’s broader strategic platform.
“Yak Communications, OneConnect Services and Canopco are positioned well for future growth and we believe that under new ownership, all three brands will continue to provide the same high standard of service and innovation to Canadian homes and businesses,” said Brice Scheschuk, Chief Executive Officer of Globalive Capital. “Globalive Capital has long been a leader in the telecommunications sector and we will continue to seek out opportunities to invest in this industry.”
Earlier in 2016, Globalive Capital announced the formation of a CAD $100 million fund dedicated to Series A investments of between $1 million and $5 million. Globalive Capital and Anthony Lacavera are actively involved with numerous incubator and accelerator programs in Canada, and have participated in international initiatives and conferences including the C100 in California and RISE in Hong Kong.
About Globalive Capital
Globalive Capital is the investment company of Anthony Lacavera and his team including Brice Scheschuk, Simon Lockie and David Roff. The partners have a combined 80 years of operating and investing experience and have founded or co-founded and operated 13 companies including WIND Mobile, which was sold to Shaw Communications for $1.6 billion. Globalive Capital invests principal capital in multiple asset classes including venture, private equity, real estate and infrastructure. The company has made over 75 investments and is well-known as a strategic, entrepreneur friendly investor. For more information, visit www.globalive.com
About Yak Communications
Yak was founded in 1991 and acquired by Globalive Communications in 2006. Yak was one of the first entrants to Canada’s competitive communications market and has always provided Canadian consumers with great services at a fair price. Yak is continuously evolving its product line to expand coverage and bring its transparent, no-contract, no hidden fee services to more customers. For more information, visit: www.yak.ca.
About OneConnect and Canopco
Founded in 2003 by Globalive, OneConnect focuses on bringing new communications technologies to small and medium sized Canadian businesses. OneConnect has become known as Canada’s premiere hosted VoIP company as well as a boutique, nimble provider of integrated voice, network, collaboration, and cloud services. Servicing over 5,000 businesses across Canada and offering customized solutions for a number of key industries including hospitality, retail and franchise, security, real estate, and medical, OneConnect’s emphasis is on exceptional customer service and attention to businesses that are traditionally neglected by larger communications companies. Canopco is the choice of 80 per cent of the hospitality telecommunications market, serving thousands of properties around the world. Canopco’s success is built on unique profit sharing opportunities, competitive pricing, breadth of services, market and customer flexibility, timely implementation, and strategic industry partners.
For further information: Brice Scheschuk, CEO, (416) 204-0240, firstname.lastname@example.org
Photo courtesy of Globalive Capital