WaveDivision Holdings, LLC,

doing business as A trade name, trading name, or business name, is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is a "fictitious" business name. Registering the fictitious name w ...

Wave Broadband, is an American provider of residential, business, and enterprise class cable TV, broadband Internet, and

telephone A telephone is a telecommunications device that permits two or more users to conduct a conversation when they are too far apart to be easily heard directly. A telephone converts sound, typically and most efficiently the human voice, into e ...

services to around 455,000 customers in

Washington Washington commonly refers to: * Washington (state), United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered o ...

Oregon Oregon () is a state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington, while the Snake River delineates much of its eastern boundary with Idaho. T ...

, and

California California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...

. Wave provides services via their own

fiber-optic An optical fiber, or optical fibre in Commonwealth English, is a flexible, transparent fiber made by drawing glass (silica) or plastic to a diameter slightly thicker than that of a human hair. Optical fibers are used most often as a means t ...

network and has approximately 1,300+ employees. The company was founded by its former CEO, Steve Weed, in 2003, by purchasing cable systems owned by Northland Communications, Cedar Communications, and

Charter Communications Charter Communications, Inc., is an American telecommunications and mass media company with services branded as Spectrum. With over 32 million customers in 41 states, it is the second-largest cable operator in the United States by subscribe ...

and

. It was expanded by acquiring other, some distressed, cable, telecommunications, and broadband companies. On May 22, 2017, it was announced that Wave was to be acquired by

TPG Capital TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...

for $2.36 billion. Wave Broadband was combined with RCN Grande, two other cable/internet companies controlled by TPG Capital. RCN provides services along the East Coast and in Chicago similar to those of Wave; Grande operates throughout Texas. Wave is expected to continue to operate under its own brand after the merger is complete. The acquisition of Wave by TPG was completed on January 24, 2018. In November 2020, Stonepeak Infrastructure Partners announced that it would acquire Astound Broadband, which operates Wave, from TPG for $3.6 billion in a

leveraged buyout A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money ( leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loa ...

that included an additional $4.5 billion of debt.

References

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* Cable television companies of the United States Companies based in Kirkland, Washington Internet service providers of the United States Telecommunications companies established in 2003 2003 establishments in Washington (state) 2018 mergers and acquisitions {{US-telecom-company-stub