Kirkland-based Wave Broadband to be sold for $2.4 billion

Kirkland-based internet provider Wave Broadband will be bought by San Francisco private equity company TPG Capital in a deal worth £2.36 billion. Wave will join with RCN Telecom Services, which TPG already owns, to form a cable and internet service provider that spans large parts of the nation. Wave has been growing rapidly[1] in the last several years.

The company has reeled in more than £1 billion from investors and expanded its fiber broadband network up and down the West Coast. Last month, Wave announced[2] it had bought its 22nd company.

Wave will keep its own brand name and its offices will stay in Kirkland after the acquisition.

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Unlimited Digital Access. £1 for 4 weeks.[3]

TPG bought RCN and fellow telecom company Grande in August 2016. Combined, TPG says, the three companies represent the sixth largest internet and cable provider in the U.S. By joining together, the companies will offer services along the East and West Coasts, and in Chicago and Texas.

Wave has about 1,400 employees, and said it plans to keep expanding on the West Coast.

The deal is expected to close by the end of the year.

References

  1. ^ has been growing rapidly (www.seattletimes.com)
  2. ^ Last month, Wave announced (www.seattletimes.com)
  3. ^ Unlimited Digital Access. £1 for 4 weeks. (www.seattletimes.com)

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