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WaveDivision Holdings, LLC
Wave Broadband
TypeSubsidiary
IndustryTelecommunications
Founded2003
FounderSteve Weed
Headquarters
Area served
Washington, Oregon, and California
Key people
James Holanda, CEO
ServicesResidential, business, and enterprise class fiber-optic, Internet access, VoIP, and cable television
Revenue133,000,000 United States dollar Edit this on Wikidata
ParentAstound Broadband
Websitewavebroadband.com

WaveDivision Holdings, LLC, doing business as Wave Broadband, is an American provider of residential, business, and enterprise class cable TV, broadband Internet, and telephone services to around 455,000 customers in Washington, Oregon, and California.[1] Wave provides services via their own fiber-optic 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 in Washington and Oregon.[2][3][4][5] It was expanded by acquiring other, some distressed, cable, telecommunications, and broadband companies.[6][7][8][9]

On May 22, 2017, it was announced that Wave was to be acquired by TPG Capital for $2.36 billion.[10][11] 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.[12] 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 that included an additional $4.5 billion of debt.[13][14]

References

  1. ^ "About Wave". Wave Broadband. WaveDivision Holdings LLC. Retrieved April 5, 2017.
  2. ^ Chew, Jeff (July 11, 2003). "Port Angeles-Sequim: Kirkland-based Wave buys Northland Cable TV". Peninsula Daily News. Sound Publishing. Retrieved February 17, 2021.
  3. ^ Smith, Angela (February 23, 2004). "Wave takes over former Charter services". Kitsap Sun. Gannett. Retrieved February 17, 2021.
  4. ^ Trask, Amy (June 7, 2003). "Charter abandons area cable business". Kitsap Sun. Gannett. Retrieved February 17, 2021.
  5. ^ "Charter Cable selling Port Orchard system for reported $91 million"
  6. ^ "Wave Acquires CPI, Extending Wave’s Broadband Fiber Network"
  7. ^ "Wave Broadband and WOW! Internet, Cable, and Phone to Acquire Broadstripe"
  8. ^ "Wave Acquires Spectrum Networks and CondoInternet"
  9. ^ "Black Rock Cable to Merge with Wave Broadband
  10. ^ "Wave Broadband and RCN Combine to Form one of the Largest Independent Internet and Cable Operators in the Country"
  11. ^ "Wave Broadband acquired for $2.36B by TPG Capital"
  12. ^ "TPG Completes Wave Broadband Deal". Multichannel. Retrieved January 24, 2018.
  13. ^ Gottfried, Miriam (November 1, 2020). "Stonepeak Infrastructure to Buy Cable Provider Astound Broadband". The Wall Street Journal. Dow Jones & Company. Retrieved February 17, 2021.
  14. ^ Osbourne, Charlie (November 2, 2020). "Stonepeak acquires Astound Broadband in $8.1 billion deal". ZDNet. Retrieved November 2, 2020.