Colony Capital (CLNY) Acquires Beanfield Technologies

Digital Colony, the global digital infrastructure investment platform of Colony Capital, Inc. (NYSE: CLNY) and a leading investor, owner and operator of companies enabling the next generation of mobile and internet connectivity, today announced Digital Colony Partners' acquisition of Beanfield Technologies Inc. ("Beanfield"), an independent bandwidth infrastructure provider in Canada serving the enterprise, carrier and multi-dwelling units ("MDU") markets. Financial terms of the private transaction were not disclosed.

Beanfield's portfolio includes 366 route kilometers of pervasive and dense metro fiber infrastructure in Toronto and Montreal and over 76,000 strand kilometers of fiber infrastructure, representing an average of 208 strands per route kilometer. The company also has 541 on-net locations, including 367 commercial locations, 161 MDUs and 13 data centers. Beanfield owns 100% of its assets.

"Beanfield's network connects to virtually all of Toronto's major commercial buildings, apartment complexes and data centers, and the company serves some of the largest and highest value customers in the Canadian market," said Steven Sonnenstein, a Managing Director at Digital Colony. "The company's executive team, led by founder and CEO Dan Armstrong, has done a fantastic job creating a leading, Tier 1-market bandwidth provider that is primed to capitalize on an evolving Canadian telecommunications market. As the region's MNOs look for new and shared infrastructure solutions, we are excited to support Beanfield and help the company continue to grow."

"As our customers require more bandwidth and faster speeds, our goal is to not only meet their increasing needs, but also find new ways to support them with access to additional resources and Digital Colony's vast experience in indoor and outdoor small cells," said Armstrong. "We are extremely happy to partner with Digital Colony. Their support, guidance and sector expertise will be key assets as we enter new markets and verticals, and broaden our carrier, commercial and large-scale residential customer base."

Davies Ward Phillips & Vineberg LLP served as legal counsel to Digital Colony Partners and TD Securities led on debt financing. DLA Piper served as legal counsel to Beanfield and The Bank Street Group LLC acted as the firm's financial advisor.

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