Atlantic Broadband, the nation’s eighth-largest cable operator, today announced that it has signed a definitive agreement to purchase Thames Valley Communications, a broadband services company operating in Southeastern Connecticut. The transaction is subject to customary regulatory approvals and is expected to close within three months. Upon closing of the transaction, Atlantic Broadband will add approximately 10,000 customers to its operations in Connecticut.
This acquisition allows Atlantic Broadband to expand its presence in a market where the Company is already well established following its acquisition of MetroCast’s Connecticut operations in 2015.
“The acquisition of Thames Valley Communications will nicely complement our presence in Southeastern Connecticut, as our businesses share the same values of customer focus and support of the communities we serve,” said Frank van der Post, President, Atlantic Broadband. “With a commitment to innovation, a first-rate customer experience, and stimulating economic growth in the region, we look forward to offering high quality Internet, video and phone services to homes and businesses in the communities of Groton, Mystic, Stonington, Pawcatuck and Gales Ferry.”
Bill Pearson, Chief Executive Officer of Thames Valley Communications added: “Over the past seven years we have invested heavily in TVC’s network and technology to provide the best Internet, TV and phone services, including increasing our Internet speeds by nearly 50x, from 20 Mbps to 1 Gig, and bringing our network reliability to best-in-class. Going forward, Atlantic Broadband’s strong management and larger scale will provide our residential and business customers with access to leading-edge, high quality technology and services.”
Atlantic Broadband was advised on this transaction by Morgan Lewis LLP as legal counsel. Thames Valley Communications was advised by RBC Capital Markets as M&A advisor and Lowenstein Sandler LLP as legal counsel.
ABOUT ATLANTIC BROADBAND
Atlantic Broadband, a subsidiary of Cogeco Communications Inc. (TSX: CCA), is the eighth-largest cable operator in the United States, based on the number of television service customers served. The company provides its residential and business customers with internet, TV and phone services in 11 states: Connecticut, Delaware, Florida, Maine, Maryland, New Hampshire, New York, Pennsylvania, South Carolina, Virginia and West Virginia. Atlantic Broadband is headquartered in Quincy, Massachusetts. To learn more about Atlantic Broadband, please visit https://atlanticbb.com.