SYOSSET, N.Y., March 30, 2017 /PRNewswire/ -- DCI Design Communications LLC ("DCI"), an industry leader in Data, Voice, and Unified Communications technologies, announced the execution of a definitive agreement to acquire the assets and operations of EthoStream LLC, from Telkonet, Inc. The combined entity will serve over 2,500 properties and provide a full managed service offering in voice and data to more than 500,000 hotel rooms. The combined operations make DCI the #1 provider of data and voice services in hospitality in North America. DCI is retaining all key employees of EthoStream.
"The EthoStream team is passionate about the same thing we are—creating high quality solutions supported by a world-class service organization," stated Charbel Zreik, CEO of DCI. "DCI continually works hard to better serve each of our customers. By combining these two great organizations, we broaden our operational and technical capabilities and can further improve our ability to deploy and support cutting edge networks for our customers. In addition, we can now offer a broad spectrum of solutions for all property types. The leading hospitality flags, ownerships groups and management companies are looking for reliable partners that can service a multitude of needs, and now our combined company is perfectly situated to do that."
Matt Koch, former COO of Telkonet, Inc. and the newly-appointed General Manager of the EthoStream business unit of DCI added: "DCI is a great fit for our data operations. We are united by a common culture based on a passion for innovation and customer service. We look forward to adding vlue to our customers by bringing DCI's expertise in voice and unified communications."
The acquisition was led by Light Beam Capital, which is a group of investors and operators who are led by Peterson Partners. Matthew Day, Partner at Peterson Partners added, "We are excited to back DCI in this next phase of growth and as we become the North American leader in hospitality voice, data and unified communications."
About DCI DesignDCI Design Communications LLC is a managed services IT provider with solutions in the areas of high speed Internet access, data, hosted voice, phones/telecommunication, and unified communications solutions. It also offers networking solutions; analog and IP guest room telephone solutions; converged IP systems; wireless solutions; wireless site surveys and designs; call accounting and voice mail systems; IPTV and security cabling solutions; bandwidth management and reporting solutions; television systems; distributed antenna solutions; tiered guest Internet bandwidth solutions; guest mobility and Internet management solutions; and low voltage technology systems. The company provides designs, deploys, proactively monitors and provides 24x7 support. DCI is headquartered in Syosset, NY and has offices throughout the United States. For more information, visit www.dci-design.com.
About EthoStream EthoStream is a market leader in High Speed Internet Access technologies for the Hospitality, Student Living, and MDU/MTU markets. EthoStream prides itself on professional network design, installation, certification and support. Its cloud management platform connects and support over 40 million users annually and provides owners and operators with key insight into their networks. EthoStream is headquartered in Milwaukee, Wisconsin and has offices throughout the United States. For more information, visit www.ethostream.com.
About Peterson Partners Peterson Partners is an independent investment management firm based in Salt Lake City, UT. Since its founding in 2003, Peterson has raised eight growth-oriented private equity funds and has invested in over 130 companies across a variety of asset classes. Peterson seeks to be a true value-add partner to the entrepreneurs they back, and they look for entrepreneurs who desire more than just capital from an investment partner. For more information, visit www.petersonpartners.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dci-design-announces-the-acquisition-of-ethostreams-operations-300431848.html
SOURCE DCI Design Communications LLC
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