Stratus Networks Appoints Darren Feder as New CEO to Expand Fiber Access in the Midwest.

MONTREAL, April 17, 2023 /PRNewswire/ - Stratus Networks proudly announces the appointment of Darren Feder as its new Chief Executive Officer. Boasting over 25 years of experience in the telecom sector, Mr. Feder brings a wealth of strategic leadership prowess and an impressive track record of achievements to his latest position.

Mr. Feder's appointment, coupled with Novacap's substantial investment in Stratus, signifies a strong dedication to extending fiber access throughout the Midwest. Stratus will be expanding to offer its comprehensive gigabit network and extensive portfolio of networking and voice products to a broader range of communities, buildings, and businesses, ensuring customers have access to increased options and genuine competition.

"I am enthusiastic about my new role and Stratus Networks' future," stated Mr. Feder. "With years of telecom experience under my belt, I possess a thorough understanding of the requirements for elevating Stratus to new heights. I eagerly anticipate collaborating with the Board, Executive Team, and all team members. Stratus' two-decade-long commitment to providing world-class technology, services, and customer care to organizations sets the ideal stage for continued growth."

Benjamin Desmarais, Stratus Board of Directors member and Partner at Novacap, expressed: "We are delighted to welcome Darren as Stratus Networks' new CEO. His established leadership and extensive telecom expertise make him the ideal candidate to guide Stratus through its forthcoming expansion. Stratus Networks remains dedicated to delivering swifter, more dependable internet and communication services to organizations on a local, national, and international scale."

Founded in 1981, Novacap is a leading North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in TMT, Industries, Digital Infrastructure and now Financial Services, Novacap's deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge that help build world-class businesses. Novacap has offices in Montreal, Toronto and New York. For more information, please visit www.novacap.ca

Founded in 1998, Stratus has grown to become a leading data and voice network services provider for businesses of all sizes across the Midwest. Since inception, Stratus has invested in and built superior network, product offerings and partnerships to deliver the best available network services to its customers. The Company owns, leases, and operates its own large fiber network to deliver a full suite of solutions including data, internet, cloud and voice. For more information about Stratus, visit www.stratusnet.com.

SOURCE Novacap Management Inc.

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