$2.3B Wave Broadband Acquisition by RCN Will Create Sixth Largest Cable Broadband Operator

In its latest deal, TPG Capital is backing RCN’s $2.3 billion Wave Broadband acquisition. Wave Broadband will join TPG Capital’s cable and broadband portfolio, which also already includes RCN and Grande Communications – two operators that, like Wave, are focused on multi-play offerings including broadband and video in competition with incumbent telcos and cable companies. The combined company will be the nation’s sixth largest internet and cable operator. Bringing Wave, RCN and Grande together will create a regional market leader in next-generation, high-speed data services for residential and business customers with a presence spanning the West Coast, East Coast, Chicago and Texas. The $2.36 billion deal is expected to close in the second half of 2017.