AM snags Nex-Link
AM Communications Inc. has snatched up one of its competitors Nex-Link Communications Project Services LLC.
AM plans to roll the broadband network installer into its AM Broadband Services Inc. subsidiary. Once the merger is complete, Nex-Link will become a wholly owned subsidiary of AM Broadband Services and will operate under the name AM Nex-Link Communications Inc.
To acquire the company, AM will give Nex-Link's principals roughly $4.59 million, which will be dolled out in cash, a promissory note and AM common stock. Specifically, AM will pay $1 million in cash and $1 million in a promissory note with the rest of the payment coming in the form of 7 million restricted shares of AM common stock — the stock had a market value of $2.59 million at the close of the market on June 3.
The transaction is subject to certain closing conditions and is expected to be completed on or before July 1.
Separately, AM announced a partnership with Harmonic Inc. to integrate Harmonic's broadband networking systems with the AM Communications Omni2000 HFC Network Management System.
As part of the deal, AM has added support for all Harmonic HFC headend and hub-based network transport equipment — including the PWRLink, MAXLink and METROLink transmission systems — to the Omni2000 system.
The integrated system will give cable operators the ability to more completely monitor and manage their environment from the headend to the last mile, says AM. Financial terms were not disclosed.