PRINCETON, N.J. – November 1, 2021 – Astound Broadband (Astound), the sixth largest U.S. cable operator in the United States that operates leading regional providers RCN, Grande, Wave, and enTouch has completed the acquisition of the broadband systems of WideOpenWest, Inc. (WOW!) located in Chicago, IL, Evansville, IN, and Anne Arundel, MD for $661 million.
With the closing of this transaction, Astound expands its existing network footprint and customer base in these new markets. The acquired broadband systems serve approximately 128,000 residential and business customers, pass more than 700,000 homes, and include 5,700 miles of plant.
“Astound Broadband’s acquisition of WOW!’s Illinois, Indiana, and Maryland markets significantly advances our footprint in areas largely adjacent to the company’s existing operations,” said Jim Holanda, CEO of Astound Broadband. “This expansion enables us to leverage incumbent fiber-rich network assets, nearby operations talent, award winning customer service, and a strong product set to serve even more customers. We’re excited to officially welcome WOW! customers and colleagues to Astound.”
Since the transaction was initially announced in June 2021, both companies have been preparing to transition employees and customers in WOW!’s Chicago, IL, Evansville, IN, and Ann Arundel, MD service areas to Astound Broadband. In the short term, the acquired markets will continue to operate without interruption under the WOW! name and trademark and will be rebranded following the integration period.
“With Astound Broadband, WOW! has found a good steward for our operations in Chicago, Evansville, and Ann Arundel,” said Teresa Elder, WOW! CEO. “The team at Astound shares the same employee and customer-centric culture and values and has the resources and commitment to provide the same quality of service our customers have come to expect from WOW!.”
JP Morgan and Morgan Stanley are acting as financial advisors to Astound and Simpson Thacher & Bartlett LLP is serving as legal advisor. Kelley Drye & Warren LLP is acting as regulatory advisor, with Deloitte & Touche LLP serving as tax and accounting advisor.
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About Astound (RCN, Grande Communications, Wave, and enTouch)
RCN Telecom Services, LLC (www.rcn.com), Grande Communications (www.mygrande.com), Wave (www.wavebroadband.com) and enTouch Systems (www.enTouch.net) form the sixth largest US cable operator and provide award-winning high-speed internet, broadband communications solutions, digital TV, phone services and fiber optic solutions for residential and business customers across the United States. Together, RCN, Grande, Wave and enTouch serve areas of Chicago, Eastern Pennsylvania, Massachusetts, New York City, and Washington, DC. (RCN); Texas (Grande Communications and enTouch Systems) and Northern California, Oregon and Washington (Wave).
About WOW! Internet, Cable & Phone
WOW! is one of the nation’s leading broadband providers, with an efficient, high-performing network that passes 2.5 million residential, business and wholesale consumers. WOW! provides services in 17 markets, primarily in the Midwest and Southeast, including Illinois, Michigan, Indiana, Maryland, Alabama, Tennessee, South Carolina, Florida and Georgia. With an expansive portfolio of advanced services, including high-speed Internet services, cable TV, phone, business data, voice, and cloud services, the company is dedicated to providing outstanding service at affordable prices. WOW! also serves as a leader in exceptional human resources practices, having been recognized seven times by the National Association for Business Resources as a Best & Brightest Company to Work For, winning the award for the last three consecutive years. Visit wowway.com for more information.
