" In August, US Metropolitan Telecom, LLC announced that it was acquired by Summit Vista Inc, a US based wholly-owned subsidiary of Cable Bahamas Ltd. Since the announcement, the company has merged with three other entities including Marco Island Cable, NuVu, and Summit Broadband of Orlando. Over the next 60 days the entities will do business under the brand name Summit Broadband." That's the summary. Summit used to be Orlando Telephone Company.
I have no idea what happened to the US MetroTel assets. The merger also explains why the fiber map is 404.
The press release explains more:
"Thursday August 15, 2013 (Bonita Springs, FL) – US Metropolitan Telecom, LLC is pleased to announce that FiberCon Holdings, LLC, the holding company for US Metro, has executed an agreement to sell 100% of the stock to Summit Vista Inc, a U.S. based wholly-owned subsidiary of Cable Bahamas Ltd. The transaction closed on August 15, 2013. This transaction comes just ahead of the proposed transactions where Summit Vista will acquire the stock of Marco Island Cable, NuVu, and Summit Broadband of Orlando. The three transactions will consolidate the Florida business operations of US Metro, Marco Island Cable, its affiliate NuVu LLC, and Summit Broadband to form a world-class provider of telecom, TV, and broadband services, doing business under the brand name Summit Broadband.
Marco Island Cable was the first cable operation in Collier County to deliver digital television, High Definition, and two-way broadband internet services. Under its NuVu brand, Marco Island Cable has been a technology leader with the first fiber-to-the-home solutions delivered by a franchise operator in Southwest Florida. The company provides services to nearly 15,000 households in Collier County alone.
Summit Broadband (formerly Orlando Telephone Company) is a facilities-based communications provider with over 25,000 telephone, internet, and cable television customers in the greater Orlando market. The merger of these entities, along with the backing of a strong public company like Cable Bahamas, will ... blah, blah .... With over $112 Million in revenues in 2012, Cable Bahamas is well positioned for expansion into the Florida market. The company will support the merged US Metro, Marco Island Cable, NuVu, and Summit Broadband entities by initially investing more than $90 Million to connect and grow the first phase of its U.S. footprint."
That explains a little about where some companies went. Gerard Sola and Frank Mambuca are still with Summit.
Post a Comment