Aggressive Acquisition Strategy Propels Access Media 3 Into New Markets

Top Quote Triple-play media service provider Access Media 3 has finalized acquisitions that give it new footholds in the midwest, southeast and west, making it one of the leading providers of tv/internet/voice service to multi-dwelling unit properties in the nation. End Quote
  • Chicago, IL (1888PressRelease) February 19, 2013 - Access Media 3 (AM3), a leading media service provider to multi-family properties, has announced a trio of acquisitions that 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 across the country. Additionally, AM3 has finalized the acquisition of service subscribers from MDU Communications (USA) Inc. ("MDUC") 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, will gain approximately 28,000 new subscribers in the combined acquisitions. The various acquisitions were finalized in late December 2012.

    Since its launch in 2007, AM3 has followed a strategy of carefully selected acquisitions and local management agreements coupled with organic sales to add new territories and increase subscribership. With support from investors including Meritage Funds, WP Global Partners, and Petra Capital Partners, AM3's aggressive growth approach has produced an annual run rate of revenues and EBITDA of approximately $41,000,000 and $8,000,000 respectively. AM3's rapid expansion earned it a spot on the 2011 Inc. 500 list of the nation's fastest-growing companies, as well as repeated Year-to-Year Growth Awards from its satellite television partner DIRECTV.

    For AM3, the three new acquisitions represent a major milestone as the company stakes its first claims in the western US. 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 RGUs, 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 three 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," commented 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."

    "We've built the company on four pillars: integrity, quality, expertise, and customer service," noted AM3 CEO Scott Rediger. "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."

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