There was a bit of fiber consolidation down in Florida this past week that slipped past while I was travelling, and the source was of the offshore cable MSO variety. Ok, so that’s not actually a known variety, but in this case it was the US subsidiary of Cable Bahamas doing the buying, taking out both US Metropolitan Telecom and Summit Broadband, as well as Marco Island Cable and NuVu for a combined sum of $89M.
US Metro had built an extensive fiber network in southwest Florida, while Summit Broadband offered both cable and metro fiber in the Orlando market. The combination gives Cable Bahamas a significant infrastructure footprint in Florida featuring revenues of around $112M with . The combined business will take the Summit Broadband name, and is planning an investment of $90M in further expansion capex.
I wonder if Cable Bahamas has any further purchases in mind to expand their Florida footprint, and whether they’ll be chasing the consumer or enterprise opportunity.
Last fall we featured US Metro and its CEO Frank Mambuca here on Telecom Ramblings.
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Categories: Cable · Mergers and Acquisitions · Metro fiber
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Repetitive post, Frank Mambuca is the top telecom excecutive around. It is no surprise he has manged US Metro into this M&A and likely very nice paydya for his original investors.
I will always say the largest and most costly mistake Level 3 (and Kevin O’hare) ever made post Wiltel Merger was replacing him with hiring Ed Mclaughlin Wiltel exec. And for wrong reasons , personal. I belive this cost Ohara his job and Level 3 investors billions