RCN/Grande, a nationwide broadband service platform controlled by TPG Capital, has closed its previously announced partnership with Wave Broadband (Wave), the company said.
Wave is a regional incumbent broadband services and cable TV provider reaching 690,000 homes and over 280,000 customers including more than 13,000 unique commercial clients in Washington, Oregon, and California. The company maintains a “high-speed data first” strategy and has nearly 8,000 miles of owned fiber supporting its market-leading enterprise fiber business. As part of the transaction, Founder and CEO Steve Weed joined RCN/Grande as a Director.
On May 22, 2017, TPG Capital announced it was backing RCN/Grande to combine with Wave Broadband for USD 2.365 billion. The combination creates the sixth largest cable company in the US and expands RCN/Grande´s robust high-speed broadband services platform. TPG Capital acquired RCN and Grande through separate transactions in 2016. The firm has a long history of investing in digital media and entertainment, with investments such as Airbnb, CAA, ipsy, Lynda.com, RentPath, Spotify, Uber, and Vice Media.
TPG is a global alternative asset firm founded in 1992 with more than USD 79 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG´s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.
RCN Telecom Services, LLC (www.rcn.com and www.rcn.com/business) provides industry-leading high-speed Internet, all-digital TV and phone services for residential, small/medium and Enterprise business customers. PCMag´s Readers´ Choice Award named RCN one of the winners for best ISPs in 2013, 2015, 2016 and 2017 — RCN was rated highest in overall satisfaction.
Grande Communications is a Texas-based broadband communications company that offers a full suite of Internet, TV and phone services for residential and business customers through its state-of-the-art, high-capacity, hybrid fiber-optic network. Since its launch 16 years ago, Grande has offered Texans a real choice in entertainment and communications services plus outstanding local customer and technical support. Grande proudly serves the following communities: Austin, San Antonio, Dallas, San Marcos, Waco, Corpus Christi, Midland and Odessa. For more information, visit mygrande.com, like Grande Communications on Facebook or follow @grandecom on Twitter.