In a deal between two providers focused on multifamily broadband, Smartaira has acquired Florida-based Lux Speed Inc. Additional details were not disclosed.
Smartaira provides multi-gigabit, symmetrical service via both fiber internet and managed Wi-Fi. It markets to homeowner-association, condo-association and multi-tenant rental properties in 26 states. The company said that the acquisition is its fourth since 2021 and that it will strengthen its operations in the southeast.
“We couldn’t be more excited to welcome Lux Speed’s subscribers and employees to Smartaira,” CEO Darren Rish said in a press release.
“Lux Speed built great customer relationships on the foundation of best-in-class infrastructure and high-quality customer service, which are the key tenets underpinning Smartaira’s business. We look forward to expanding the relationship with Lux Speed’s customers and building off of the momentum that Lux Speed has achieved in the Southeast.”
This was not the only deal this year in which one multifamily broadband provider acquired another with an eye on the southeast. In April, ResortNet LLC, which provides broadband and cable services to MDUs, acquired the assets of Broadband MDU, a company that focused on the southeastern Florida market. ResortNet is based in Colorado and focuses on private communities, hotels, senior living facilities and municipalities.
In 2021, Parks Associates said that four in ten surveyed were intrigued by the end over having their fees for broadband services bundled with their rent. Seventy-seven percent said they would pay higher rent in order to do so. The report also found high usage: 41& of MDU residents responding have a least one smart home device compared to 34% of single family homes that have more than one.
