Novacap brings Canadian how-to model to Maine's Oxford Networks
Novacap Technologies has agreed to buy Oxford Networks, a Lewiston, Maine-based provider of end-to-end telecommunications and IT solutions for businesses in New England and other U.S. regions, peHUB Canada has learned. A special meeting of Oxford shareholders last week approved the deal, which is intended to facilitate further expansion of the 113-year old company, and give it the opportunity to launch new product and service offerings. While the acquisition price was not disclosed, one source pegged it at around US$50 million. According to Novacap partner Ted Mocarski, the Oxford deal represents a continuation of its strategy of investing in select U.S. companies that fit the technology investment model it pioneered in Canada. Mocarksi likened Oxford to other telecom transactions recently done by Novacap. For example, last January the firm bought Host.net, a Boca Raton, Fla.-based provider of network infrastructure services focused on cloud computing, co-location and storage. And last May, it acquired Montréal's Fibre Noire, a specialist in fibre optic connectivity services for enterprises.
