August 24, 2011
Kirkand, WA – Wave Broadband and WOW! Internet, Cable, and Phone announced today that they have entered into an agreement to purchase substantially all of the assets of Broadstripe LLC, a provider of residential and commercial bundled communications services.
Broadstripe, which filed for Chapter 11 bankruptcy protection in January 2009, operates in Maryland, Michigan, Oregon, and Washington. DH Capital is providing advisory services to Broadstripe on the transaction.
Wave will acquire the Washington and Oregon properties which reach more than 103,000 homes. Wave currently operates in California, Oregon, and Washington, and serves more than 300,000 customers.
Steve Weed, CEO of Wave Broadband, said, “With this acquisition, Wave continues a tradition of expansion in strategic West Coast markets. Wave’s successful growth stems from our sincere commitment to providing superior products and exceptional service to our customers. And we look forward to serving these communities.”
The sale must be approved by the Bankruptcy Court and, upon approval, the transition is expected to take up to four months before the sale can be officially completed.
ABOUT WAVEDIVISION HOLDINGS:
WaveDivision Holdings, LLC is a cable services company currently serving over 325,000 customers in Washington, Oregon and California. WaveDivision Holdings is headquartered in Kirkland, Washington and operates under two retail brand names- Wave Broadband, www.wavebroadband.com, and Astound Broadband, www.astound.net. Owned and operated by industry leaders, WaveDivision Holdings supports its customers with decades of cable know-how, providing its cable systems with the latest technologies and upgrades, including high speed Internet, home phone service, digital cable, international programming, digital video recording, and HDTV.