Acquisition Establishes Strong Foundation for Rural Cochrane and Ontario Expansion
Toronto, ON, CANADA and Cochrane, ON, CANADA (March 29, 2021) – EION Inc., a global provider of 4G/LTE wireless solutions and a leading owner and operator of broadband networks in rural Canada, under the brand of IceNet Wireless, is pleased to announce the acquisition of Cochrane Telecom Services (CTS), from The Corporation of the Town of Cochrane, Ontario. This acquisition represents an important foundational step towards EION establishing a significant presence in rural Ontario, in order to provide superior high-speed Internet and value-added services to underserved communities.
“The Town of Cochrane is an important business gateway for Northern Ontario, connecting the communities of Iroquois Falls, Smooth Rock Falls, Kapuskasing and beyond. We are very proud to acquire Cochrane Telecom Services from the Town of Cochrane, to leverage their existing extensive fibreoptic network to expand IPTV, Fibre-to-the-Home (FTTH) and high-speed internet to the citizens of Cochrane and surrounding areas.”, stated Dr. Kalai Kalaichelvan, CEO of EION Wireless. “The region of Cochrane will also be an important pilot site for deploying our 5G microcell and IoT solutions,” Dr. Kalaichelvan said.
“The Town of Cochrane is thrilled to have established a public-private partnership with IceNet Wireless to provide the expertise required to take Cochrane Telecom Services into the future. Not only will the Town see an immediate investment and enhanced service to our rural residents, but this will also open a new chapter in our community’s history as we transform CTS into a cutting-edge technology company which our community can be proud of,” said His Worship Denis Clement, Mayor of the Town of Cochrane.
“Broadband is now an essential service, and we are excited to complete this acquisition during the time of the pandemic, where work from home and learn from home are highly dependent on reliable high-speed internet connectivity. We see great opportunities for business growth and economic development in the region,” added John O’Farrell, President, Cochrane Telecom Services Inc.
“We believe that this public-private partnership is a strong paradigm for scaling our business and will further drive EION’s growth through owning and operating rural broadband networks in Canada,” Dr. Kalaichelvan concluded.
To ensure that the Town of Cochrane continues to have a voice in making decisions for the newly incorporated Cochrane Telecom Services Inc., a subsidiary of EION Inc., the Town of Cochrane, through the Cochrane Economic Development Corporation (CEDC), has purchased 30% of all the issued and outstanding shares of the company. The CEDC will have a seat on the board of directors of Cochrane Telecom Services Inc.
In addition to providing high-speed Internet to the citizens of Cochrane, additional value-added-services such as: 24/7 virtual healthcare on demand (through a partnership with TELUSHealthTM); distance learning platforms; Connection Kiosks for victims of domestic abuse and violence; and access to leading edge technology and products through EION’s global manufacturing facilities, will bring significant benefit to the region of Cochrane.
“Celebrating its 100-year anniversary in 2021, Cochrane Telecom Services has now established a strong foundation for another 100 years of significant growth and service to the community,” concluded His Worship Denis Clement, Mayor of the Town of Cochrane.
About Cochrane Telecom Services Inc.
CochraneTel was founded in 1921 under the Public Utilities Commission, to provide electricity, water and sewer and telephone services to the community of Cochrane. With the introduction of competition in the electricity market and the disbanding of Commissions across the province, Cochrane Telecom Services (CTS) was formed in 2003, to provide telecommunications to the community. In 1994 internet was introduced to Cochrane, which has become one of our primary sources of revenue.
In 2015, CTS pursued the implementation of Internet Protocol Television (IPTV), a television service offered through the same copper and fibre cables that transport all our services.
CochraneTel looks forward to delivering ever improving services to all the people of Cochrane, both in the rural and urban communities, for another 100 years to come.
For more information please visit: www.cochranetel.ca
About EION Wireless
EION Wireless, headquartered in Ottawa, ON Canada, is a global provider of Broadband Wireless Access products that enable effective, economic and secure wireless high-speed communications solutions. Formed in 2001, EION is a global provider of 4G Mobile LTE solutions, and high-speed broadband wireless products. With Global Customer Support Operations in India, and multiple regional sales offices around the globe, EION Wireless works with more than 165 worldwide channel partners to support some of the largest 4G deployments in the world. EION Wireless has established over 50 Gold partners globally. EION channel partners support various enterprise sectors such as Oil & Gas, WISP, Government Institutions, Mining, and Public Safety & Security. EION products are sold to Tier I and II Service Providers directly.
For more information please visit: www.eionwireless.com.
About IceNet Wireless
Through nationwide networks, IceNet Wireless provides point-to-point infrastructure for Internet Services for both residents and businesses. IceNet has launched our Community Connects Program that offers Virtual Healthcare on Demand, Free Public WiFi access as well as Digital Display Advertising, Public Messaging Solutions, Multimedia Entertainment services as part of Remote Broadband Internet Access. IceNet currently offers unlimited access, no contract, high-speed internet to over 100 rural communities across Newfoundland.
IceNet Wireless is part of the EION Group of Companies.
For more information please visit: www.icenetwireless.com
About the Town of Cochrane
With the largest gold mine in North America, two world class forestry mills poised for prosperity, some of the leading green energy initiatives in the region, the regions only assay lab, a growing rail presence, and an aggressive growth agenda, Cochrane’s economy is running on all cylinders. Along with a world class events center newly built in 2004, breathtaking snowmobile trails, festivals at a provincially sized scale, one of only a few world class tourist attractions in the North, a supervised beach right in the heart of the community, the provinces only free bike share program, public watercraft, an amazing way of life, all situated in the best backyard on the planet, Cochrane’s social structure is poised to remain vibrant for a very long time.
For more information please visit: http://www.cochraneontario.com/
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
John O’Farrell
Cochrane Telecom Services Inc.
C: 707-271 6715
Esther Leafloor
EION Inc.
C:613-271-4400
Denis Clément
Mayor/Maire
The Corporation of the Town of Cochrane
T: 705-272-4361
C: 705-272-9515
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