Cogeco acquires assets of VC-backed internet services provider Oxio

• Oxio will continue to operate independently
• In 2021, Oxio raised C$25 million in a Series A financing led by Xavier Niel, founder of Free
• Cogeco Connexion is a subsidiary of Cogeco Communications, a Canadian telecommunications and media company

Cogeco Connexion has acquired the telecommunications operation of Montreal-based internet services provider Oxio. No financial terms were disclosed.

“As we are making the strategic shift to focus exclusively on the growth of our software business, Cogeco presented itself as the best home for our Internet customers,” said Marc-André Campagna, CEO and co-founder of Oxio, in a statement. “As a Quebec-based company with a human scale and an entrepreneurial culture, we believe that Cogeco is best-positioned to enable oxio to reach new heights.”

Oxio will continue to operate independently.

In 2021, Oxio raised C$25 million in a Series A financing. The round was led by Xavier Niel, founder of Free, with participation from Investissement Québec, Desjardins Capital, Desjardins Entreprise, WNDRCO and Dispatch Ventures.

Cogeco Connexion is a subsidiary of Cogeco Communications, a Canadian telecommunications and media company. Cogeco Connexion is the second-largest cable operator in Ontario and Québec.