Cogeco Cable Completes the Acquisition of Atlantic Broadband
MONTREAL, CANADA, Nov 30, 2012 (Marketwire via COMTEX) --
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.
"We feel that this transaction creates a great opportunity for Atlantic Broadband's customers and our employees. Cogeco Cable is a very solid company that has strong experience in our industry. Our companies share much in common and, because of our combined expertise, we see strong growth opportunities for the future through enhanced services for our residential and business customers," said Ed Holleran.
With the completion of this transaction, Cogeco Cable now serves more than 2.45 million primary service units (PSUs) in Canada and in the United States.
ABOUT COGECO CABLE
Cogeco Cable (www.cogeco.ca) is a telecommunications corporation and is the second largest hybrid fibre coaxial cable operator in Ontario and Quebec. Through its two-way broadband cable networks, Cogeco Cable provides its residential customers with Analogue and Digital Television, HSI and Telephony services. Cogeco Cable also provides to its commercial customers, through its subsidiary Cogeco Data Services, data networking, e-business applications, video conferencing, hosting services, Ethernet, private line, VoIP, HSI access, data storage, data security, co-location services, managed IT services, cloud services and other advanced communication solutions. Cogeco Cable's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA).
ABOUT ATLANTIC BROADBAND
Atlantic Broadband is the 12th largest cable operator in the United States. The company is headquartered in Quincy, Massachusetts, with over 650 employees and 251,000 customers located in four operating regions: Western Pennsylvania, Miami Beach, Maryland/Delaware, and Aiken, SC. Additional information is available at www.atlanticbb.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Cogeco Cable Inc.
Vice President, Public Affairs and Communications
Atlantic Broadband Julie Smith Senior Vice-President, Marketing 617-786-8800 ext.107
SOURCE: Cogeco Cable Inc.
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