DirecTV Buys An Installer4/18/2008 8:00 PM Eastern
Looking to gain control of its installation network, DirecTV is acquiring 180 Connect Inc., one of North America's largest providers of installation, integration and fulfillment services, in a $105 million deal, officials said last Friday.
Under the terms of the agreement, DirecTV will acquire 100% of 180 Connect's outstanding common stock and exchangeable shares for $1.80 per share.
The deal is expected to close in the third quarter.
Prior to the acquisition, DirecTV had outsourced all its installation service operations through 13 home-service provider companies.
“Our installation technicians are the first, and often the only, point of face-to-face contact that a customer has with DirecTV, and this merger underscores the importance we place on this interaction,” Mike Palkovic, DirecTV's executive vice president of operations, said in a prepared statement.