Shaw Communications Inc. (SJR_B.TO, SJR) said Monday that it has entered into agreements to buy Enmax Envision Inc. from Enmax Corp. for about C$225 million.
Envision is Enmax Corp.'s high-speed data communications subsidiary, operating one of Calgary's largest fibre-optic networks and specializing in providing large bandwidth solutions to businesses that require a dedicated internet connection or need to connect multiple locations over private networks.
The purchase price will be funded with cash on hand and through Shaw's existing credit facility.
Both Enmax and Shaw are committed to closing the deal as quickly as possible.
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