Radiant Backs Off from PE Acquisition

Radiant Communications Corp., a Vancouver-based provider of managed network and cloud hosting solutions, has terminated the March agreement to be 100% acquired by Canadian private equity firms Maxam Capital Corp. and PenderFund Capital Management. The decision follows a subsequent offer made in April by Frontier Networks Inc., a custom data and networking programs company based in Toronto. Radiant indicated that a committee of its independent directors had determined Frontier's was the "superior proposal."

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