Wave Closes $50M Black Rock Cable Buy
KIRKLAND, Wash. -- WaveDivision Holdings (www.wavebroadband.com), a business-class fiber optic and broadband services company with business and residential customers in Washington, Oregon, and California, today announced that is has completed a $50 million acquisition of Black Rock Cable. Based in Bellingham, WA, Black Rock provides high-capacity fiber optic connectivity services in Northwest Washington state including King, Whatcom, Skagit and Snohomish counties to hundreds of large public and private sector commercial customers in government, medical, aerospace, communications, manufacturing and other regionally-based industries, all sharing a need for high-performance broadband. Wave, a provider of video, internet and phone services for nearly 400,000 residential and commercial customers in Washington, Oregon, and California, recently raised more than $1 billion in funding to support the company's continued growth. Formed in 2003 by CEO Steve Weed, Wave has established a reputation for high-quality service, growing both organically and by network expansion and acquisitions. "This is a particularly important acquisition for Wave, as Black Rock's proven expertise in dealing with commercial and wholesale clients greatly strengthens our enterprise business, while extending Wave's dark fiber network from the Canadian border down the West Coast to the San Francisco DMA," said Steve Weed, Wave CEO. "Connecting the Wave network to Black Rock's thousands of miles of fiber infrastructure adds to Wave's already asset-rich, high-capacity business and stands to enable better services for both new and existing customers." WAVE Corp.