Altice USA continued its acquisition strategy with the news today that it has entered into a definitive agreement to acquire the assets of Morris Broadband, a broadband provider serving western North Carolina. The deal, which is expected to be completed next quarter, is the latest in a string of acquisitions that Altice has made in recent years.
Morris Broadband is a rapidly growing broadband provider that provides high-speed broadband, video and voice to approximately 36,500 residential and business customers, according to a press release. The acquisition would make North Carolina the sixth largest state for Altice USA, which operates in 21 states.
“Morris is a perfect fit for Altice as we are accelerating our network expansion with increased investment in edge outs, upgrades of underdeveloped systems and FTTH deployment to drive customer, revenue and cash flow growth,” said Altice USA CEO Dexter Goei, in a press release. “We look forward to providing our high-quality broadband, video, mobile and news offerings to thousands of additional homes and businesses, with a great opportunity to further penetrate Morris’ existing homes passed and by expanding more into adjacent areas.”
Altice Acquisition Strategy
The company now known as Altice USA became a significant player in the broadband and cable business in 2015 when international communications conglomerate Altice acquired Suddenlink, which was the seventh largest U.S. cable operator.
Not long after, the company purchased an even larger cable and broadband provider Cablevision.
In 2017, an initial public offering created Altice USA.
Financial details of the Morris Broadband deal can be found in this press release.