Videotron has acquired fibre optic connectivity services company Fibrenoire from Novacap, a private equity firm, for $125 million.

The Montreal-based Fibrenoire, which will operate as an independent subsidiary, serves more than 1,000 customers in the Montreal, Quebec City, Ottawa, and Toronto areas. It operates its own network of over 4,500 km of fibre connectivity.

We were awesome, now we are AWESOMER! @Videotron https://t.co/yJCvWULoZ5 <3

— Fibrenoire (@Fibrenoire) January 7, 2016

#NOUVELLE | Vidéotron acquiert @Fibrenoire pour répondre aux besoins croissants du marché des entreprises au Québec: https://t.co/SDIXNiehE4

— Videotron (@Videotron) January 7, 2016

“We take immense pride in what Fibrenoire has accomplished since our investment in April 2013. From the start, we saw great potential in the company”, said Stéphane Tremblay, a senior partner at NOVACAP, which is a buyout fund specializing in tech, media and telecom.

Videotron Business Solutions, a subsidiary of Quebecor, offers Internet access services, network connectivity, business and mobile telephone services, and data hosting, serving more than 125,000 businesses through fiber-optic, coaxial cable, and LTE networks.

“Like other recent acquisitions by Quebecor and its subsidiaries, such as Mel’s Studios and Postproduction (formerly Global Vision), the addition of Fibrenoire will increase our presence in growing market segments and further diversify our revenue streams,” said Pierre Dion, president and CEO of Quebecor.

Founded in 2007, Fibrenoire provides internet, ethernet, private and managed IP MPLS, custom-built dark fibre and wavelength transport services. The company, now at 60 employees in Montreal, serves more than 1,000 companies of all sizes, including several international carriers and Internet Service Providers (ISPs) operating in Canada and internationally

According to Lightwave, Fibrenoire’s three founders, Benjamin Desmarais (president), Rami Fournier (vice-president, sales and engineering), and Jean-Francois Lavesque (CTO), will remain with the company in their current roles.

“Our connection with Videotron will give us access to financial resources, technological depth, and a fiber-optic network of more than 30,000 km available across Quebec,” said Fibrenoire’s Desmarais. “Those assets will enable us to better serve business customers. The deal is a win-win that combines our strengths and gives us the means to achieve our ambitions.”