Carrier Connect Data Solutions Expands Portfolio with PureColo Acquisition

Carrier Connect Data Solutions Inc. has entered into a definitive agreement to acquire PureColo Inc., an established provider of carrier-neutral data centers in the Ottawa region. The acquisition, announced on November 28, 2025, represents a strategic expansion for Carrier Connect as it continues its mission to consolidate Tier II/III data centers internationally specializing in colocation services.

Under the terms of the share purchase agreement, Carrier will issue 4,606,704 common shares to PureColo securityholders, with these consideration shares subject to escrow conditions releasing in thirds at 4, 8, and 12 months following closing. Additionally, PureColo securityholders will receive approximately $2,326,000 in cash consideration payable over a nine-month period, subject to adjustment based on PureColo's debt covenants. The transaction completion remains subject to customary closing conditions, including approval from the TSX Venture Exchange.

The acquisition brings significant financial and operational benefits to Carrier Connect. PureColo's unaudited revenue for 2025 is forecast at approximately CAD $2.35 million with gross profit of $1.13 million, representing a 48% margin. The company services approximately 60 customers across its two Ottawa data centers located on Riverside Drive and March Road, demonstrating impressive 28% year-over-year revenue growth while maintaining EBITDA positivity. PureColo maintains $3.5 million in property, plant and equipment within total assets of $3.7 million.

Rainer Paduch, Chief Executive Officer of PureColo, highlighted the strategic alignment between the two companies, noting that the due diligence process has progressed well and indicating smooth integration prospects. Paduch emphasized emerging opportunities, stating that PureColo has seen an uptick in mid-market AI opportunities that align well with both companies' data center capabilities and should drive significant future revenue. More information about the company's operations can be found at https://www.sedarplus.ca.

Mark Binns, Chief Executive Officer of Carrier Connect, expressed enthusiasm about adding PureColo's Ottawa-based data centers to the company's portfolio. With this acquisition, Carrier now operates four data centers across three regions, establishing a strong revenue base with expansion capacity. Binns noted that PureColo provides additional space to serve existing and prospective customers while Carrier continues its strategy of accumulating capacity through ongoing acquisitions.

The acquisition positions the combined entity to better serve the growing demand for colocation and data center solutions, particularly in the artificial intelligence sector. As businesses increasingly rely on data-intensive applications and AI technologies, the need for reliable, carrier-neutral data centers becomes more critical. The expansion into Ottawa provides geographical diversity and redundancy capabilities that are essential for businesses requiring disaster recovery solutions and uninterrupted internet connectivity.

This transaction represents Carrier Connect's continued execution of its roll-up strategy in the competitive data center market. By acquiring established operators like PureColo, Carrier can leverage existing customer relationships, operational expertise, and physical infrastructure to accelerate growth. The combined company's enhanced scale and geographic reach position it to compete more effectively for larger contracts and capitalize on the accelerating digital transformation across multiple industries.