Highway 89 Acquires Four Fiber Broadband Internet Companies

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Highway 89, backed by private equity firm Freedom 3 Capital, has acquired four fiber-focused broadband companies to provide Internet service to more than 400 properties and 40,000 subscribers. Financial terms of the acquisitions were not disclosed.

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High speed internet services for multi-family units

The four acquisitions include Arizona-based Broadband Holdings and Digital Home Lifestyles, as well as Utah-based Mereo Networks and Vicidiem. These companies have now combined to operate under the Mereo Networks brand, the buyer said.

Their primary goal: “To support owners and developers of multi-family units with reliable, single-source broadband Internet solutions,” said Highway 89. Residents, in turn, can “follow simple online instructions to obtain instant access to an Internet connection, ”added the buyer.

Beyond the Internet service, Mereo Networks has a network operations center providing 24x7x365 monitoring. Developers of multi-family apartments, in turn, can take advantage of smart building technologies including digital thermostats, security systems, door locks, smart lighting, and fiber-optic internet to increase value. of their properties, Mereo said.

Investor and Executive Perspectives

In a prepared statement on the acquisitions, Thomas Wilky, CEO and founder of Highway 89, said:

“With a proven track record as a reliable critical service provider, Highway 89 has successfully grown our business portfolio by adding significant value for developers through a robust product offering that generates revenue and improves resident satisfaction. in multi-family units. We look forward to the future of Mereo and its expansion into current and future markets with the support of Freedom 3 Capital.

Brock Blackner, Founder of Mereo Networks, added:

“I’m thrilled to join the Highway 89 team and I’m thrilled to have the resources in place to expand our platform and deliver our trusted brand of customer service to even more residents across the United States. United. “

Concluded Brian Block, Partner at Freedom 3 Capital:

“This investment is in line with Freedom 3’s goal of supporting passionate entrepreneurs with the proven ability to seize significant and demonstrable growth opportunities. The multi-family space is growing rapidly and the infrastructure to support high-quality connectivity is essential to deliver a great residential experience. We are excited to partner with Highway 89 to support this experience and encourage the long-term growth of the Mereo platform. “

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