Virgin Media is acquiring Waterford-based cable operator Casey Cablevision. Terms of the deal to acquire the Dungarvan firm were not disclosed.
Casey Cablevision is a family-owned business employinh 13 people that was established in 1979. It provides TV, high-speed broadband and phone services to more than 2,000 customers in Dungarvan and the surrounding area.
The company booked a profit of €27,000 in 2016, bringing accumulated profits to €858,000. Casey Cablevision Ltd closed 2016 out with net worth of €1.2m, with net assets valued at €1.1m and debtors amounting to €477,000. Parent company P.B.N. Holdings is owned jointly by Patrick Casey, Noelle Casey and William Casey.
Paul Farrell (pictured), vice-president of commercial at Virgin Media Ireland, described the Casey family as “true pioneers of the cable industry in Ireland”.
Farrell added: “They were the first to invest in fibre optic cabling, which allowed them to offer high-speed broadband to customers in the south-east when the provision of such services was a distant dream for Irish consumers and businesses.”
In Association with
The deal is subject to approval by the Competition and Consumer Protection Commission.
