Access Media 3 closes three acquisitions
Wednesday, February 06, 2013 11:20 AM
OAK BROOK -- Access Media 3, a media service provider to multi-family properties, recently announced a trio of acquisitions that it said will dramatically expand the company’s market reach.
AM3 has signed separate purchase agreements to acquire certain assets with Ygnition Networks, and some previously owned by Connexion Technologies, giving AM3 a foothold in 20 states. Additionally, AM3 has finalized the acquisition of service subscribers from MDU Communications (USA) Inc. in Florida, Illinois and Georgia, further expanding the company’s subscriber base in those established AM3 markets.
AM3, which provides bundled triple-play television, internet, and voice service to multi-dwelling unit properties, said it will gain approximately 28,000 new subscribers in the combined acquisitions. The various acquisitions were finalized in late December, 2012.
For AM3, the three new acquisitions represent a major milestone as the company stakes its first claims in the western U.S. AM3 will now serve subscribers in Alabama, Arizona, California, Colorado, Missouri, Texas, Utah, Washington, and Wisconsin, in addition to its established markets in Illinois, Minnesota, Florida, Georgia, Delaware, Maryland, North Carolina, South Carolina, Tennessee, Virginia and Washington.
Including new subscribers from the acquisitions, AM3 serves a total of approximately 88,000 subscribers and 117,000 revenue-generating units, in over 700 properties that include apartments, condominiums, dormitories, and senior assisted living facilities. This high level of subscribers establishes AM3 as one of the top two leading providers serving the MDU market.
“AM3’s growth is part of a long-term strategy to become the dominant provider of triple play services in the multiple dwelling unit sector,” said Jim Allen, co-founder of Meritage Funds and AM3 Board Chairman. “These new acquisitions allow us to pursue that goal with maximized efficiency as we bring new properties into our organization. We look forward to making AM3 the first choice for media services in multifamily properties from coast to coast.”
AM# CEO Scott Rediger noted the company is build on four pillars: integrity, quality, expertise, and customer service.
“This is an exciting time for AM3, combining the expansion of our geographic footprint with the strengthening of our position in our most established markets. Our overall goal is to offer the most flexible, quality-driven packages in triple play service in the market,” Rediger said.