Access Media 3, a provider of video, voice and data service to multi-family properties, said it has closed three separate acquisitions that will add 28,000 customers in nine additional states.
Access Media said it has signed separate agreements to purchase certain assets of Ygnition Networks and Connexion Technologies, giving AM3 a foothold in 20 states across the country. 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. The various acquisitions were finalized in late December 2012.
AM3, based in Oakbrook, Ill., was formed in 2007 with support from investors including Meritage Funds, WP Global Partners, and Petra Capital Partners and has annual run rate revenue of about $41 million. The company now serves about 88,000 subscribers and 117,000 RGUs, in over 700 properties that include apartments, condominiums, dormitories, and senior assisted living facilities.
“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 AM3 chairman and Meritage Funds co-founder Jim Allen in a statement. “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.”
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