The Illinet systems are near existing Mediacom operations in the MSO's Midwest region.
The deal works out to be about $1,950 per subscriber, within Mediacom's strategy of paying $2,000 per subscriber or less for cable systems.
This is the seventh cable systems acquisition Mediacom has made this year; the company has spent about $47 million for 27,000 subscribers. Mediacom also has a pending deal to buy another 12,000 subscribers for $27.5 million. That deal should close by the end of the year.
Mediacom has about 757,000 subscribers in 22 states, primarily in the Central, Midwest and North Central regions of the country.
Waller Capital Corp. represented Illinet Communications in the deal.