DirecTV buys installation provider
Rocky Mountain News
Published April 18, 2008 at 9:02 a.m.
Updated April 18, 2008 at 9:02 a.m.
DirecTV Group, the nation’s No. 1 satellite-television provider, is buying home-installation provider 180 Connect Inc. of Cherry Hills Village.
With the purchase, DirecTV will gain control of one of its largest installation and home-service providers in 45 U.S. market locations throughout California, Colorado, Oregon, Washington, Utah, Montana, Idaho, Wyoming, Arkansas, Virginia, Hawaii and western Pennsylvania. Prior to the acquisition, DirecTV had outsourced all its installation operations through 13 home-service providers.
DirecTV will acquire all of 180 Connect’s outstanding common stock and exchangeable shares for $1.80 a share. The deal is expected to close in the third quarter.
180 Connect shares are traded under the name of 180 Connect Inc. on the OTCBB under the symbols CNCT.OB, CNCTU.OB and CNCTW.OB.
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