Cogeco Cable Announces Successful Completion of Bid for Peer 1 Network Enterprises

Cogeco Cable Announces Successful Completion of Bid for Peer 1 Network 
01/29/13 -- Cogeco Cable Inc. ("Cogeco Cable") (TSX:CCA) and Peer 1
Network Enterprises, Inc. ("PEER 1") (TSX:PIX) announced today that
124,112,692 common shares (the "Deposited Shares") of PEER 1,
representing approximately 96.57% of the outstanding common shares
("Common Shares") of PEER 1 (calculated on a fully-diluted basis),
have been validly deposited prior to the expiry of the offer (the
"Offer") made by Cogeco Cable, through its indirectly wholly-owned
subsidiary 0957926 B.C. LTD. (the "Offeror"), to acquire all of the
issued and outstanding Common Shares for $3.85 per Common Share in
cash. All conditions of the Offer have been satisfied and the Offer
has now expired and will not be extended. The Offeror has taken up
all of the Deposited Shares and payment for the Deposited Shares will
be made on or before February 1, 2013 to Computershare Investor
Services Inc., as depository under the Offer, for payment to PEER 1
shareholders who have validly deposited their Common Shares under the
"We are excited that all conditions of our Offer have been satisfied
and are thrilled with the prospects this acquisition presents to
Cogeco Cable shareholders, customers and employees," said Louis
Audet, President and CEO of Cogeco Cable. 
"We are fully committed to implementing our growth strategy in the
data centre services sector and to further develop our robust service
suite for businesses across Canada, the U.S. and parts of Europe.
PEER 1, along with Cogeco Cable's subsidiary Cogeco Data Services,
will focus on delivering a seamless solution for our customers'
increasingly sophisticated and complex needs. The infrastructure and
expertise of both organizations provides us with the scale and scope
to maximize potential growth in the enterprise services market,"
concluded Mr. Audet. 
"This transaction opens new possibilities for our customers,
management and employees," said Fabio Banducci, President and CEO of
PEER 1. "Similar to Cogeco Cable and its subsidiaries, PEER1 strives
to provide exceptional customer service and deliver technological
excellence to our customers."  
As the Offer was accepted by holders of more than 90% of the issued
and outstanding Common Shares (calculated on a fully-diluted basis),
Cogeco Cable will take control of PEER 1's board of directors and
operations and intends to acquire through the Offeror all of the
remaining Common Shares not deposited under the Offer pursuant to the
compulsory acquisition provisions in Section 300 of the Business
Corporations Act (British Columbia). Cogeco Cable expects to mail a
notice of compulsory acquisition (the "Notice of Compulsory
Acquisition") to all remaining holders of Common Shares shortly.
Cogeco Cable further intends to cause the Common Shares to be
de-listed from the Toronto Stock Exchange and to cause PEER 1 to
cease to be a reporting issuer under applicable securities laws as
soon as possible. 
In connection with the completion of the Offer, Cogeco Cable has
entered into secured revolving credit facilities in the amount of the
Canadian equivalent of $250 million and having a maturity of four
years as well as secured term credit facilities in the amount of the
Canadian equivalent of $400 million and also having a maturity of
four years, with a syndicate of lenders led by National Bank of
Canada and will fund the payment for the Deposited Shares using the
new credit facilities. 
Cogeco Cable ( is a telecommunications corporation and
is the second largest hybrid fibre coaxial cable operator in Ontario
and Quebec. Through its two-way broadband cable networks, Cogeco
Cable provides its residential customers with Analogue and Digital
Television, High Speed Internet ("HSI") and Telephony services.
Cogeco Cable is also present in the United States through its
subsidiary, Atlantic Broadband, whose head office is located in
Quincy, Massachusetts. Atlantic Broadband is ranked the 12th largest
cable television system operator in the United States and, serves a
number of markets in Western Pennsylvania, Southern Florida,
Maryland, Delaware and South Carolina. Cogeco Cable provides as well
to its commercial customers, through its subsidiary Cogeco Data
Services, data networking, e-business applications, video
conferencing, hosting services, Ethernet, private line, VoIP, HSI
access, data storage, data security, co-location services, managed IT
services, cloud services and other advanced communication solutions.
Cogeco Cable's subordinate voting shares are listed on the Toronto
Stock Exchange (TSX:CCA). 
ABOUT PEER 1 Hosting 
PEER 1 Hosting ( is one of the world's leading IT
hosting providers. The company is built on two obsessions: Ping &
People. Ping, represents its commitment to best-in-breed technology,
founded on a high performance 10Gbps FastFiber Network(TM) connected
by 19 state-of-the-art data centres and 21 points-of-presence
throughout North America and Europe. People, represents its
commitment to delivering outstanding customer service to its more
than 10,000 customers worldwide, backed by a 100 percent uptime
guarantee and 24x7x365 FirstCall Support(TM). Info-Tech Research
Group recently named PEER 1 Hosting as a "Champion" in its Canadian
colocation and managed services Vendor Landscape report, recognizing
the company's strength in product offerings and enterprise strategy
in the global IT marketplace. PEER 1 Hosting's portfolio includes
Managed Hosting, Dedicated Servers under the ServerBeach brand,
Colocation and Cloud Services under the Zunicore brand. Founded in
1999, the company is headquartered in Vancouver, Canada, with
European operations headquartered in Southampton, UK. PEER 1 Hosting
shares are traded on the TSX under the symbol PIX. For more
information visit: or  
Certain statements contained in this press release may constitute
forward- looking information within the meaning of securities laws.
Forward-looking information may relate to Cogeco Cable's or PEER 1's
future outlook and anticipated events, business, operations,
financial performance, financial condition or results and, in some
cases, can be identified by terminology such as "may", "will",
"should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue", "foresee", "ensure"
or other similar expressions concerning matters that are not
historical facts. In particular, statements and information regarding
the timing of payment for Deposited Shares, the acquisition of Common
Shares not deposited prior to the expiry of the Offer pursuant to a
compulsory acquisition transaction, the mailing and filing of the
Notice of Compulsory Acquisition, Cogeco Cable's intention to delist
the Common Shares and cause PEER 1 to cease to be a reporting issuer
are forward-looking statements. In addition, statements regarding
Cogeco Cable's or PEER 1's future operating results and economic
performance and its objectives and strategies are forward-looking
These statements are based on certain factors and assumptions
including expected growth, results of operations, performance and
business prospects and opportunities which Cogeco Cable or PEER 1, as
applicable, believes are reasonable as of the current date. While
management considers these assumptions to be reasonable based on
information currently available to Cogeco Cable or PEER 1, as
applicable, they may prove to be incorrect. Cogeco Cable and PEER 1
caution the reader that the economic downturn experienced over the
past few years make forward-looking information and the underlying
assumptions subject to greater uncertainty and that, consequently,
they may not materialize, or the results may significantly differ
from Cogeco Cable's and PEER 1's expectations. It is impossible for
Cogeco Cable or PEER 1 to predict with certainty the impact that the
current economic uncertainties may have on future results.
Forward-looking information is also subject to certain factors,
including risks and uncertainties that could cause actual results to
differ materially from what Cogeco Cable or PEER 1 currently expect.
These factors include technological changes, changes in market and
competition, governmental or regulatory developments, general
economic conditions, the development of new products and services,
the enhancement of existing products and services, and the
introduction of competing products having technological or other
advantages, many of which are beyond Cogeco Cable's and PEER 1's
control. These factors also include actions taken by PEER 1
shareholders in respect of the Offer and the compulsory acquisition
process. Therefore, future events and results may vary significantly
from what management currently foresees. For more exhaustive
information on these risks and uncertainties, prospective purchasers
should refer to the risk factors described in the management's
discussion and analysis of Cogeco Cable for the year ended August 31,
2012 and the risk factors described in the annual information form of
PEER 1 for the fiscal year ended June 30, 2012. Prospective investors
should not place undue importance on forward-looking information and
should not rely upon this information as of any other date. While
management may elect to, Cogeco Cable and PEER 1 are under no
obligation and does not undertake to, update or alter this
information at any particular time, except as may be required by law.
Rene Guimond
Vice President, Public Affairs and Communications
Tel.: (514) 764-4746 
March Communications on behalf of PEER 1 Hosting
Sarah Love
Tel.: (617) 960-9881 
Analysts and investors:
Pierre Gagne
Senior Vice President and Chief Financial Officer
Tel.: (514) 764-4756
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