Ygnition Acquires Convergent Broadband Communications, Inc.
Posted on: Wednesday, 17 September 2008, 18:00 CDT
SEATTLE, Sept. 17 /PRNewswire/ -- Ygnition Networks, the leading provider of television, high-speed internet, and digital telephone to the multi-family real estate industry today announced the purchase of Convergent Broadband Communications, Inc. (CBC). The acquisition includes the service agreements and equipment serving approximately 24 communities and 10,000 apartment units in and around the Phoenix area.
Ygnition provides broadband services to over 100,000 apartment units throughout the United States. These communities are owned and operated by some of the largest and most respected property management companies, REITs, and private owners in the country.
"This acquisition is an exceptional opportunity for our Company because we now serve over 15,000 apartment and condominium units in the Phoenix area," said Kevin Coyle, CEO of Ygnition. "In addition to this acquisition, we've recently signed several additional agreements directly with apartment owners in the area, and foresee excellent long-term growth in the Phoenix market."
"Ygnition Networks has a strong reputation for service and an excellent suite of products, and CBC is pleased that Ygnition will be operating the systems in the future," stated Don Bowen, President, CBC.
Additionally, Ygnition named Tom Kuerner as its new Regional Manager responsible for operations in the Phoenix market. Mr. Kuerner has more than 25 years of experience managing the delivery of cable television services to the multi-family industry and most recently served as Ygnition's West Coast Regional Manager.
About Ygnition Networks, Inc.
Ygnition is a leading provider of broadband services to the real estate industry. The company is headquartered in Seattle, Washington with operations in San Francisco, San Diego, Dallas, Houston, Orlando, Salt Lake City and Phoenix. For more information, please visit http://www.ygnition.com/.
About Convergent Broadband Communications, Inc.
Based in Tempe, Arizona, CBC is a full-service provider of broadband technology; including traditional cable television, digital television, and high-speed internet to multi-family residential communities.
Ygnition Networks, Inc.
CONTACT: Ronald Sullivan, CFO of Ygnition Networks, Inc.,+1-206-574-5490, sully@ygnition.com; or Don Bowen, President of ConvergentBroadband Communications, Inc., +1-602-386-4423, don@cbbaz.com
Web site: http://www.ygnition.com/
Source: PRNewswire
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