On June 10, 2009, Communication Telosysteme Inc., an affiliate of Distributel Communications Limited, successfully completed the purchase of substantially all of the assets of Cybersurf Corp. and its subsidiaries for an aggregate purchase price of $5.5 million.
The assets purchased include all of Cybersurf's assets relating to its Internet access user bases, including high speed, long distance and VoIP telephone services in Canada, the associated underlying agreements and relevant assets, and shares of certain wholly-owned subsidiaries of Cybersurf.
Distributel Communications Limited is a privately held Canadian corporation in business since 1988. Together with it's Quebec-based affiliate Communication Telosysteme Inc., which operates as Distributel, it provides long distance, internet, teleconferencing and local telephone services to some 200,000 Canadians.
Distributel was advised in this transaction by a team from Fasken Martineau led by Stephen Whitehead and that included, among others, Stuart Brotman, Brian McIntomny and Anne Ko.