June 20, 2002


Paging Network of Canada Inc. (“PageNet”), founded in 1996 and based in Toronto, Ontario, Canada, through acquisition and internal growth, is the largest paging and critical messaging company in Canada. Through its 4 terminals, just under 400 transmitters, and fully functional, single frequency FLEX/reFLEX Motorola-based network, PageNet provides comprehensive data transfer and messaging services for one-way, two-way paging, asset tracking and telemetry customer applications. PageNet’s critical messaging services are used by Canada’s major hospital groups and corporate, government and manufacturing clients.

Investment History: In December 2002, Incyte, together with its Canadian investment partner Newshore and management CEO partner Garry Fitzgerald, completed the purchase of all of PageNet’s Bank Credit Facilities. In December 2003, Incyte and its Canadian partners completed a restructuring of virtually all of the debt of the Company to equity. In late 2005, PageNet purchased the operations of Verizon Messaging, Canada. In 2016, PageNet purchased the operations of Telepage. Since 2003, PageNet has completed either an acquisition or a revenue sharing agreement with nine paging companies in Canada. PageNet continues to actively seek acquisitions and collaborative paging and critical messaging agreements in 2023. In 2023, Incyte continues to assist PageNet management with telecom partnering, acquisition and other corporate strategic opportunities. Incyte Capital Partner Marc Gineris and Director, Portfolio Officer Carridine Say Eubanks serve on the PageNet Board of Directors. ┬áConsistent with Incyte’s long term view, Incyte has held its entire equity position for 21 years.

Visit Paging Network of Canada web site

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