Since November 2019, rumors about Openface being acquired by Beanfield Metroconnect have been floating around.
Indeed, back in late 2019 Beanfield was acquired by Digital Colony. Some say this second acquisition was planned in the same move, but for some reason, nothing was publicly announced.
Beanfield Metroconnect specializes itself in connecting offices to data centers that have on-ramps to the Cloud. On the other hand, Openface mostly provides fiber internet access to offices in Montreal.
Our findings in the Quebec business registry seems to point out that the transaction has been done as Beanfield Technologies Inc. and Avamax Holdings Inc. (also owned by Beanfield) are now listed as shareholders of Openface Inc.
Also, it seems like Beanfield will actively use the Openface network as part of their offerings since Daniel Armstrong, the founder of Beanfield, is now listed as CTO of Openface.
In Montreal, Beanfield has been using Zayo’s fiber to deliver its services. Having this large fiber network to their disposal is clearly a great asset for the company. Should Fibrenoire be worried about this? After all, both companies now have internet and Cloud connectivity services.
We will update this post when we will get more information such as the transaction price.
Update – 03-02-2020:
Beanfield Metroconnect has confirmed the news in a press release.