Wave Completes Black Rock DealAcquisition Should Boost Commercial Services Offerings 1/10/2013 6:12 AM Eastern
WaveDivision Holdings said it has completed the $50 million acquisition of Black Rock Cable, a Bellingham, Wash.-based fiber optic network services provider that it says will help it expand its commercial services offerings throughout the Northwest.
WaveDivision, parent of Wave Broadband which has about 400,000 customers in parts of Washington, Oregon and Northern California, recently completed a $1 billion recapitalization to help finance its continued growth.
Black Rock Cable provides high-capacity fiber optic connectivity services in Northwest Washington state including 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.
“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,” Wave CEO Steve Weed said in a statement. “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 plans to retain all of Black Rock’s 21 employees, while Black Rock customers will continue to receive high levels of service under the Black Rock brand. Additionally, Black Rock customers will now have the additional support of Wave’s Network Operations team.