Seaport Capital said it has completed the sale of MCV Broadband, the largest video, voice and high-speed data service provider in Guam, to Japanese wireless giant NTT Docomo for $130 million.
The deal was first announced in September. According to a report in the Pacific Daily News, NTT Docomo’s wholly-owned Guam subsidiary, Docomo Pacific is the largest mobile phone service provider on the island - a U.S. territory since 1898 – with about 65,000 mobile phone customers. According to people familiar with the transaction, MCV Broadband has about 40,000 customers on the island.
As part of the deal, MCV Braodband will change its name to Docomo Pacific.
The combined company will have the capability to offer a fully-integrated quadruple-play video, internet, home telephone, and mobile telephone solution leveraging the combined network infrastructure of MCV and Docomo Pacific.
“We are very excited about the combination of MCV with DOCOMO,” said MCV’s Craig Thompson in a statement. “We are proud of all that we’ve accomplished over the last 8 years with Seaport Capital, and very much appreciate their support and investment.”
New York telecom investment banker Waller Capital Partners served as exclusive advisor to MCV and Seaport in the transaction.
“We appreciate the efforts of Craig Thompson and his team at MCV over the past 8 years,” said Bill Luby, partner at Seaport Capital in a statement. “We are proud of MCV’s reputation as the premier communications provider on Guam and consider it a testament to the team’s commitment to customer service. The DOCOMO-MCV combination will create a dynamic company that will deliver even greater customer satisfaction in the years ahead, and we wish the company continued success.”
