WaveDivision Holdings, the company behind Wave Broadband, has completed a $50 million acquisition of Black Rock Cable, combining two broadband services companies headquartered in the Seattle region.
The deal was announced in September, but the financial terms weren’t disclosed at the time. Wave, headquartered in Kirkland, provides video, internet and phone services to about 400,000 residential and business customers on the West Coast, and raised more than $1 billion in November to support its continued growth.
Black Rock, based in Bellingham, provides fiber-optic broadband in King, Whatcom, Skagit and Snohomish counties in Washington state. Wave, led by CEO Steve Weed, says it will retail all 21 of Black Rock’s existing employees, and the change won’t affect Black Rock’s customers.
Wave has been around for 10 years, an amalgamation of cable and fiber assets from the likes of Charter, RCN and now Black Rock. The company has been pieced together over the years through a series of more than 14 acquisitions, including some bankrupt properties.