Business
GENIVAR Income Fund Acquires Magnate, a Canadian Telecommunications Engineering Firm
MONTREAL, Sept. 2 /CNW Telbec/ - The GENIVAR Income Fund ("GENIVAR") is pleased to announce the a...
About this update from Wsp Global Inc
[{"type":"text","content":"\n\n\n\nMONTREAL, Sept. 2 /CNW Telbec/ - The GENIVAR Income Fund ("GENIVAR") is\npleased to announce the acquisition of Magnate Engineering & Associates Inc.\nand Magnate Communications Corp. ("Magnate"), a telecommunications engineering\nfirm with 70 employees based in Ontario and British Columbia.\n\n\n"I am very pleased to welcome Magnate within the GENIVAR family," said\nPierre Shoiry, GENIVAR's President and CEO. "Magnate will significantly\nstrengthen and complement our telecommunications services while boosting our\nsector team to more than 200 employees in Canada. This strategic acquisition\npositions us as a key national player providing a full range of services, from\nengineering, design, site acquisition, project management and installation to\nwireless, fibre optic and cable industry services," he added. "The\ntelecommunications industry is very active in Canada and abroad, and Magnate\nwill provide significant momentum as GENIVAR reinforces its capabilities," he\nconcluded.\n\n\n"Joining forces with GENIVAR will foster our development. We will also be\nbetter able to expand our services through GENIVAR's national and\ninternational operations network," said Elizabeth Stanmore, President and\nDeborah Kingston, Vice-President of Magnate. "Our growing clientele will\nbenefit from GENIVAR's one-stop approach to engineering and project\nmanagement. We found in GENIVAR the strategic partner to take Magnate to the\nnext level of its development," they added.\n\n\nAbout Magnate\n\n\nEstablished in 1999, Magnate has 70 employees at its offices in Brampton,\nOntario and Surrey, British Columbia. The firm has an extensive portfolio of\ncompleted projects throughout Canada and United States. It designed and\nmanaged major projects for utilities, transportation authorities, wireless and\nwireline providers, municipalities and electricity companies. It also designed\nthe first information technology project in Toronto as part of the Group of\nexperts on "smart community" put in place by the Federal Government. Magnate's\nclients include both carriers and vendors such as Rogers Wireless, Bell\nMobility, TELUS Mobility, Greater Toronto Airports Authority, TeraGo Networks,\nCogeco Date Services (formerly Toronto Hydro Telecom), Cogeco Cable, Shaw\nCo...