A $2.36 billion deal to form the sixth largest cable company in the U.S. by combining Kirkland, Wash. broadband provider Wave and RCN Telecom Services has closed.
TPG Capital acquired RCN and Grande Communications Networks in August 2016, and led the acquisition of Wave, which was first announced last May. Wave will keep its name and continue to expand on the West Coast, where it has built out more than 8,000 miles of metro fiber.
Wave boasts more than 280,000 combined residential and commercial broadband and TV customers in Washington, Oregon, and California, with a total reach of more than 690,000 homes. Wave’s CEO Steve Weed will join RCN/Grande as a director.