Astound Broadband said it has completed the purchase of systems in Illinois, Indiana and Maryland from WideOpenWest for $661 million.
Astound first unveiled the deal in June. The acquired systems in Chicago; Evansville, Indiana; and Anne Arundel, Maryland, will add about 128,000 residential and business customers to Astound’s total footprint while passing more than 700,000 homes.
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“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,” Astound CEO Jim Holanda said in a press release. “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.”
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Both companies have been working for months to transition employees and customers to Astound and added that 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,” WOW CEO Teresa Elder said in a press release. “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 advisers to Astound and Simpson Thacher & Bartlett LLP is serving as legal advisor. Kelley Drye & Warren LLP is acting as regulatory adviser, with Deloitte & Touche LLP serving as tax and accounting adviser.
