Cogeco Wraps Atlantic Broadband Buy
MONTREAL, Canada -- Cogeco Cable Inc. (TSX: CCA) announced today that it has completed the acquisition of Atlantic Broadband from ABRY Partners which was announced on July 18, 2012. Formed in 2003, Atlantic Broadband operates cable systems in Western Pennsylvania, Southern Florida, Maryland, Delaware and South Carolina.
Serving about 251,000 Television service customers, Atlantic Broadband is currently the 12th largest cable operator in the United States and provides Analog and Digital Television, as well as High Speed Internet (HSI) and Telephony services.
“This is a very important day for Cogeco Cable as this acquisition marks our entry into the United States market. There are sizable opportunities for growth, including increasing the penetration of the small and mid-sized business segment and maximizing the bundling potential of services in the residential sector. I am very pleased to confirm that Ed Holleran, one of Atlantic Broadband’s Founders, will continue to lead our US operations team as CEO. I would also like to welcome all Atlantic Broadband employees to the extended Cogeco family,” said Louis Audet, President and CEO of Cogeco Cable.
Cogeco Communications (Toronto: CCA)