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Carrier Connect Data Solutions Signs Non-Binding Letter of Intent to Acquire Network Connectivity and Delivery Assets from Morewave Communication
Vancouver, British Columbia--(Newsfile Corp. - March 23, 2026) - Carrier Connect Data Solutions I...
About this update from Carrier Connect Data Solutions Inc.
[{"type":"text","content":"Carrier Connect Data Solutions Signs Non-Binding Letter of Intent to Acquire Network Connectivity and Delivery Assets from Morewave CommunicationVancouver, British Columbia--(Newsfile Corp. - March 23, 2026) - Carrier Connect Data Solutions Inc. (TSXV: CCDS) (OTCQB: CCDSF) (WKN: A40XB1) (the \"Company\" or \"Carrier\") is pleased to announce that the Company, through its wholly owned subsidiary, Carrier Connect Systems Ltd., has entered into a non-binding letter of intent (the \"LOI\") with Morewave Communication Inc. (\"Morewave\"), a leading provider of network connectivity solutions and last mile connectivity services.Morewave provides last mile network and connectivity to data center clients primarily based out of Vancouver and extending through Western Canada. These services are of great value to Carrier and its clients, as it allows for more immediate and simplified delivery of internet connectivity solutions for Carrier's clients.Morewave is currently generating approximately $725,000 in annual recurring revenue with a profit margin of more than 25%. Upon successful completion of the transaction, Carrier's topline revenue is expected to grow by 15 to 20% immediately. The expansion of the network offering across Carrier's other data centers is expected to drive further growth in the revenue of Carrier.Pursuant to the terms of the LOI, the Company will, among other things, acquire, through its wholly owned subsidiary, the business assets that deliver networking services and connectivity solutions owned and/or operated by Morewave (the \"Proposed Acquisition\"). In consideration for the Proposed Acquisition, the Company will pay $750,000 in such number of common shares in the capital of the Company (the \"Consideration Shares\"), that in the aggregate is worth $750,000, to Morewave upon closing. The Consideration Shares will be escrowed and released by four equal tranches at 6, 12, 18 and 24 months following closing.The Proposed Transaction will be an arm's length transaction. No finder's fees are payable by either the Company or Morewave in connection with the Proposed Acquisition. The parties anticipate entering into a definitive agreement (the \"Definitive Agreement\") by no later than May 1, 2026 and completing the Proposed Acquisition shortly thereafter. The Proposed Acquisition is subject to a number of conditions, inc...