Internet service provider (ISP) TekSavvy’s stronghold as a fiercely independent provider company might soon come to an end.
According to The Globe and Mail, the ISP has put itself on the market. The publication reports the company has launched a formal sale process and is currently accepting bids.
In the past year, large corporations have purchased similar providers. Bell purchased Distributel and EBOX. Telus acquired Altima and Start.ca. Cogeco took over Oxio. TekSavvy called the acquisitions “carnage” in a February post on its website.
“TekSavvy is one of the only major wholesale-based ISPs left,” the post states. It concludes with a request for governing bodies to do more to protect the elimination of competition.
But, as The Globe points out, trouble had been brewing for years. The company had to pull out of plans to enter the wireless market through the 3500 MHz spectrum auction in June 2021 due to a lack of cash.
The company’s entrance into the Mobile Virtual Network Operator (MVNO) market also appears stalled. The company filed three applications since February 2020, which were either cancelled or withdrawn.
Source: The Globe and Mail
MobileSyrup may earn a commission from purchases made via our links, which helps fund the journalism we provide free on our website. These links do not influence our editorial content. Support us here.
