Tucows Reports Financial Results for Third Quarter 2019
TORONTO, November 6, 2019 – Tucows Inc. (NASDAQ: TCX, TSX: TC) a provider of network access, domain names and other Internet services, today reported its financial results for the second quarter ended September 30, 2019.
Ting bringing crazy fast fiber Internet to Solana Beach, CA
Expanding its presence in California, Ting will work with Netly to offer true gigabit Internet in Solana Beach.
SOLANA BEACH, CA, November 5, 2019 — Ting, a division of Tucows (NASDAQ: TCX, TSX: TC) is pleased to announce the next town to get crazy fast fiber Internet. Solana Beach joins Fullerton (announced April 2019) to become the second Ting Town in California and tenth Ting Town in the U.S.
Ting Internet’s mission is to bring better Internet access and exceptional customer experience to cities and towns across the US. Working with public and private infrastructure owners is one of the approaches Ting Internet takes to realize this mission. To that end, Netly (netlyfiber.com) is building the city-wide fiber-optic network in Solana Beach past 7,000 addresses, allowing Ting Internet to focus on lighting the network and offering the very best in customer service.
Residents and businesses can pre-order Ting Internet now at ting.com/solanabeach. Netly anticipates Ting Internet will be able to light the first customers later in 2020.
Ting Internet will offer service on the infrastructure of the future: a gigabit fiber network bringing true fiber to the premises (FttP) of every home and business it serves. In other words, every serviced home or business has its own fiber connection directly to the Internet, enabling lightning-fast, low latency, highly reliable Internet access.
“We’re delighted to bring our brand of crazy fast, super reliable Internet to Solana Beach. We’re also looking forward to working with Netly. We continue to see more diversity in the types of partnerships that can help cities and towns get modern Internet infrastructure. More and more entrepreneurs and capital are being attracted to this generational infrastructure opportunity,” said Elliot Noss, CEO of Ting Internet parent company Tucows.
Ting Internet launched in 2015 in Charlottesville, VA and has since brought fiber access to towns and cities in North Carolina, California, Idaho, Maryland and Colorado.
Pre-orders are open for Solana Beach
Solana Beach residents can pre-order Ting crazy fast fiber Internet now at ting.com/solanabeach. Pre-ordering demonstrates local demand and secures the best possible break on start-up costs on Ting gigabit service, including the full cost of installation. A one-time $9 pre-order is returned as a credit on a customer’s first Ting bill.
Network construction is slated to begin in 2020 and will run in neighborhood phases. These construction phases will be visible on the Solana Beach Ting Town page at ting.com/solanabeach when construction commences. This page will be updated regularly as milestones are reached.
Ting Internet offers symmetrical gigabit fiber Internet for residential, small business, and enterprise customers. Home gigabit Internet costs $89 a month. Business gigabit Internet costs $139 a month. Enterprise Internet service levels, installations and pricing vary and can be discussed with our local Enterprise team.
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CEO Elliot Noss, VP Networks Adam Eisner, Director, Market Development and Government Affairs Monica Webb, and other members of the Ting team are always available to speak with local and national media. Well, they may not always be available but they are often happy to chat.
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About Ting Internet
Ting Internet provides crazy fast fiber Internet in select US towns and cities. Ting is committed to net neutrality and the open Internet. More than that, Ting is committed to being a part of improving the communities it serves by supporting and championing local good works. Ting sponsors local programs, events, foundations, festivals, charities, and public services everywhere we go, investing in the future of the towns we serve.
About Tucows
Tucows is a provider of network access, domain names and other Internet services. Ting (ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (opensrs.com) and Enom (enom.com) and Ascio (ascio.com) manage over 25 million domain names and millions of value-added services through a global reseller network of over 37,000 web hosts and ISPs. Hover (hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows‘ corporate website (tucows.com).
Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
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Tucows investor contact Lawrence Chamberlain 416-519-4196 |
Ting press contact Ray Weiss 410-303-5019 |
Ting Fiber to expand Colorado presence with acquisition of Cedar Holdings Group
TORONTO, November 1, 2019 — Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, announced that it has signed a definitive agreement to acquire Cedar Holdings Group through Tucows subsidiary, Ting Fiber, Inc.
Cedar Holdings Group is a telecommunications provider serving multiple markets in the Western Slope of Colorado and northwestern New Mexico. Cedar has focused the last several years on building fiber to enterprise, anchor institution, and residential customers.
Tucows will pay $9 million in cash and $2 million in restricted stock upon closing. There are additional contingent payments of up to $4 million in total that are subject to meeting specific benchmarks, and that would be paid at 24 and 36 months from closing. The cash component of the purchase price will be funded through Tucows’ existing credit facility.
The acquisition of Cedar adds approximately 1,400 customers and 6,400 addresses passed by fiber to the Ting Internet footprint. Cedar’s high-quality customer base, multi-market fiber footprint and potential for expedited FTTH expansion to existing markets make it an attractive investment and complementary operation for Ting.
Jeff Fink, co-founder of Cedar commented, “We’ve spent almost 20 years helping our loyal local customers connect with the world in innovative ways. We are excited that we’ve found a partner in Ting that shares our passion for delivering an outstanding customer experience, and has the resources to expand 21st century fiber infrastructure to the communities in which we live and serve.”
“This acquisition makes perfect sense for our business and our shareholders,” added Elliot Noss, Tucows’ CEO. “Cedar’s customers get a customer-focused provider that will invest in expanding its footprint. Ting gets an excellent business with a deeply experienced team, high-quality enterprise customer base, and the potential for rapid expansion from the existing footprint. Our shareholders get the benefit of the instant addition of serviceable addresses; more scale on the overall Ting business; and the opportunity to leverage some of our existing resources in the region.”
The Revenue and Adjusted EBITDA contribution from this transaction will be immaterial to Tucows’ 2019 results. The Company expects to provide additional information on the ongoing contribution and expected synergies as part of its 2020 guidance update in February, 2020.
The acquisition is subject to regulatory approvals and other customary closing conditions and is expected to close by the end of 2019.
About Cedar Holdings Group
Cedar Holdings Group is a telecommunications provider serving multiple markets in the Western Slope of Colorado and northwestern New Mexico. Since its inception in 2000, Cedar has focused on delivering next-generation technology solutions in its markets, which includes building fiber to enterprise, anchor institution, and residential customers.
About Ting Internet
Ting Internet provides crazy fast fiber Internet in select US towns and cities. Ting is committed to net neutrality and the open Internet. More than that, Ting is committed to being a part of improving the communities it serves by supporting and championing local good works. Ting sponsors local programs, events, foundations, festivals, charities, and public services everywhere we go, investing in the future of the towns we serve.
About Tucows
Tucows is a provider of network access, domain names and other Internet services. Ting (https://ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (http://opensrs.com), Enom (http://www.enom.com) and Ascio (http://ascio.com) manage a combined 25 million domain names and millions of value-added services through a global reseller network of over 37,000 web hosts and ISPs. Hover (http://hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows’ corporate website (http://tucows.com).
Tucows, Ting, OpenSRS, Ascio, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.