Cogeco Cable of Canada has announced that its wholly owned US subsidiary, Atlantic Broadband, has completed the acquisition of the cable system owned by MetroCast Communications of Connecticut, and its parent Harron Communications. No purchase price has been disclosed. Louis Audet, president and CEO of Cogeco, commented: ‘Nearly three years after our initial entry into the US market, we are pleased to be continuing our geographic expansion into key growth markets. This transaction enhances our growth profile through the planned launch of new residential services such as TiVo and Metro Ethernet for businesses’.
According to Cogeco, the acquired network passes close to 70,000 homes and businesses across nine communities in Eastern Connecticut. Its system serves approximately 23,000 pay-TV, 22,000 broadband and 8,000 voice telephony customers. With the completion of this transaction Atlantic Broadband now has approximately 565,000 primary service units (PSUs) in five operating regions, namely: Western Pennsylvania, Miami Beach (Florida), Maryland/Delaware, Aiken (South Carolina) and Eastern Connecticut. Cogeco asserts that the takeover makes Atlantic Broadband the twelfth largest cable operator in the US by subscribers.