WaveDivision Holdings Raises $1B

WaveDivision raises $1.052B, plans to accelerate expansion of West Coast broadband/fiber optic network

November 15, 2012

2 Min Read

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 it has raised more than $1 billion in funding, including substantial equity investments from Oak Hill Capital Partners and GI Partners, and new bank and high yield debt financings led by Deutsche Bank and Wells Fargo. In addition to recapitalizing the profitable company, the funding will be used to support Wave's continued growth throughout the West Coast.

Since its inception in 2002, Wave has quietly grown its extensive fiber optic and broadband network through more than a dozen acquisitions of existing cable and telecom providers, including select assets from Charter and RCN. The company has also invested several hundred million dollars of capital in new construction to upgrade and expand its facilities in the Seattle, Portland, San Francisco, and Sacramento markets, becoming one of the largest fiber owners in each of those markets. Wave currently has more than 800 employees and nearly 400,000 business and residential broadband, phone, and video customers. The company is highly focused on accelerating its expansion, especially within its fast-growing Business Solutions division.

Wave operates under the Wave Broadband and Wave Business Solutions brands in the greater Seattle, Portland, and Sacramento markets, and as Astound Broadband and Astound Business Solutions in the greater San Francisco market. Wave provides carrier-class telecommunications, fiber-based wide area networks, co-location facilities and high bandwidth Internet connectivity solutions to large and small businesses, as well as advanced cable TV, true high-speed Internet, and phone services to residential and business customers. This new funding will enable the Kirkland, WA-based company to accelerate its growth in these geographies and additional West Coast markets through acquisitions, construction, strategic hiring, and continued product and technology development.

WaveDivision Holdings LLC

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