MONTREAL- Cogeco Cable reports 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 U.S. 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 in a statement.
"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," added 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.
