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