Wave Broadband closes $50 million Black Rock Cable acquisition
Wave Broadband said it closed its $50 million acquisition of Black Rock Cable, which sells high capacity fiber connections to businesses in Washington, Oregon and California.
The acquisition comes about two months after Wave, which counts about 400,000 residential and commercial customers, announced that it had raised $1 billion in funding, including investments from Oak Hill Capital Partners and GI Partners. Wave also bought cable systems in the Northwest last year from Broadstripe.
Black Rock's customers include several telecom carriers, wireless providers, ISPs and data centers, including Clearwire (Nasdaq: CLWR), AT&T Wireless (NYSE: T), T-Mobile, AboveNet, CenturyLink (NYSE: CTL), Integra, Level 3 Communications (NYSE: LVLT) and tw telecom (Nasdaq: TWTC). Wave said that it will retain 21 Black Rock employees, and that it will also keep the Black Rock brand.
- see the release
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