Carrier Connect enters LOI for Carbon60 data centres

Executive Summary

• Carrier Connect Data Solutions Inc. has signed a non-binding letter of intent (LOI) to acquire the principal business assets of the data center business owned and operated by Carbon60 Operating Co. Ltd. in Saint John, New Brunswick.
• The transaction involves a total cash consideration of $1.6 million, with $100,000 already paid as a refundable deposit and an additional $150,000 payable three months post-closing.
• The parties aim to enter a definitive agreement by February 15, 2026, with closing to follow shortly thereafter, subject to standard conditions including due diligence and necessary approvals.

Key Details

• Transaction Structure: Non-binding Letter of Intent to acquire principal business assets of Carbon60's data center business through Carrier Connect's wholly owned subsidiary, PureColo.
• Consideration:
  • Total cash payment: $1.6 million.
  • Deposit: $100,000 already paid (fully refundable).
  • Post-closing payment: $150,000 due three months after closing, subject to reductions for liabilities or payables.
• Fees: No finders' fees are payable by either party.
• Timeline: Definitive agreement expected by no later than Feb. 15, 2026; acquisition to close shortly thereafter.
• Conditions Precedent: Execution of definitive agreement, receipt of necessary approvals, and completion of satisfactory due diligence.
• Strategic Rationale:
  • Carrier Connect: Expands national coverage from British Columbia to Atlantic Canada, acquiring long-term customers and an autonomous facility with expansion possibilities.
  • Carbon60: Allows Carbon60 to continue operating in the facilities while focusing on cloud consulting and managed services (private cloud, AWS, Azure, GCP) for Maritime customers.

Notable Quotes

• Ryan Smyth, President and CEO of Carbon60: "By bringing Carrier Connect's co-location expertise into the region to manage the data centre facilities, this transaction enables Carbon60 to continue to operate in those same facilities while sharpening its focus on providing tailored cloud consulting and managed services across private cloud, AWS, Azure and GCP platforms for our Maritime customers."
• Mark Binns, CEO of Carrier Connect: "The Saint John data centre is the perfect addition to the Carrier portfolio, giving us national coverage from British Columbia to Atlantic Canada. We are acquiring an excellent portfolio of long-term customers and a facility that will be highly autonomous to manage, with expansion possibilities."