Tele Columbus, Germany’s third-largest cable TV operator, is on a buying spree.
The Berlin-based firm on Sunday said it will buy smaller rival cable operator Pepcom for €608 million, or $689 million, marking the second major acquisition in two months.
Tele Columbus, which agreed to buy rival Primacom in July for €711 million, will increase its number of customers by about 0.6 million to 3.7 million connected homes, the firm said in a statement.
“The company has operations nationwide with a strong presence in economically-attractive cities such as Munich, Nuremberg, Leipzig and Frankfurt,” Tele Columbus said about Pepcom.
Even including the takeover of Primacom and Pepcom, Tele Columbus would have recorded sales of €471 million in 2014. That’s still a far cry from the €2.05 billion realized by Germany’s market leader Unitymedia, which is owned by Nasdaq-listed U.S. firm Liberty Global, and the €2.02 billion of Kabel Deutschland, which is owned by British mobile phone operator Vodafone.