NOVA Infrastructure Announces Investment in telMAX
Ontario, Canada (January 5, 2021) – NOVA Infrastructure (“NOVA”) and Quintana Infrastructure & Development LLC (“QID”) have completed an investment in telMAX Inc. (“telMAX”), whereby NOVA has acquired a majority interest in the business. telMAX is an owner and operator of fiber-based telecommunications infrastructure and currently serves customers in the suburban regions of the Greater Toronto Area (“GTA”).
telMAX will use this investment to build a 100% fiber-to-the-home (“FTTH”) network in targeted suburban markets within the GTA. Through this proprietary, facilities-based fiber network, telMAX will offer reliable, fast, and secure data, voice, and video directly to its customers’ premises, including gigabit upload and download speeds. The telMAX management team brings decades of telecommunications industry experience and has already commenced pre-build activities for its first delivery areas, expecting to serve its first FTTH customers in the second quarter of 2021.
Zsombor Burany, CEO of telMAX, stated, “telMAX is dedicated to providing local communities with the fastest and most reliable high-speed internet available. We are excited to partner with NOVA and QID in telMAX’s next phase of growth, and today’s announcement will enable us to accelerate the buildout of our 100% fiber network and deliver industry-leading customer service and performance to our customers.”
Chris Beall, Managing Partner of NOVA, added, “We believe that telMAX is well-positioned to capitalize on strong market trends resulting in the growing demand for data. These include the proliferation of work-at-home and video streaming services which require faster and more reliable upload speeds. We look forward to working with telMAX’s experienced management team to build broadband infrastructure in the rapidly growing Greater Toronto Area.”