Highway 89, a premier in-building gigabit internet service provider, announced today it acquired four individual operating companies supported by an investment from Freedom 3 Capital, making the company one of the largest bulk internet service providers in the Western United States. Highway 89 now has access to over $100 million of capital to support the development of multi-family connectivity solutions.
The acquired entities include Arizona-based Broadband Holdings and Digital Home Lifestyles, along with Utah-based companies Mereo Networks and Vicidiem. Now operating under the Mereo Networks brand, the combined company covers 18 states across the U.S. and provides a wholesale bulk, single-source solution for premium fiber-based broadband internet to real estate development companies for use in multi-family unit properties.
“With a proven history as a reliable critical-service provider, Highway 89 has been successful in growing our business portfolio by adding significant value for developers through a robust product offering that drives revenue and improves resident satisfaction across multi-family units,” said Thomas Wilky, CEO and Founder of Highway 89. “We look forward to the future of Mereo and its expansion across current and future markets with the support of Freedom 3 Capital.”
The acquisitions position Highway 89 and Mereo Networks to provide service to more than 400 properties and 40,000 subscribers across its platform, supporting multi-family unit owners and developers with reliable single-source bulk broadband internet solutions. With hardware and software located directly on property, the platform provides proactive and direct customer service solutions that remove property managers from the technology troubleshooting process and eliminates the need for technicians to enter residences to provide connectivity. Residents are able to follow simple online instructions to obtain instantaneous access to an internet connection.
Brock Blackner, founder of Mereo Networks, stated “I am pleased to be joining the Highway 89 team and am thrilled to have the resources in place to expand our platform and deliver our trusted brand of customer service to even more residents across the United States.”
Backed by a 24x7x365 customer support center and network operations department, Mereo constantly monitors its network to dynamically adapt to a building’s environment and changing needs. The company’s single-source solution not only provides high-quality internet access, but enables developers to leverage smart building technologies including digital thermostats, security systems, door locks, smart lighting, and fiber-based internet to increase the value of their properties.
Freedom 3 Capital recognizes this technology as a useful and significant investment in the multi-family space and supports its continued expansion across all markets.
“This investment is in-line with Freedom 3’s goal of supporting passionate entrepreneurs with the proven ability to execute on considerable demonstrable growth opportunities, said Brian Block, partner at Freedom 3 Capital. “The multi-family space is rapidly growing, and the infrastructure to support high-quality connectivity is critical to providing an excellent residential experience. We are excited to partner with Highway 89 in support of this experience, and to encourage the long-term growth of the Mereo platform.”