Grande Communications Buys Harris Broadband

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(Image credit: Klaus Vedfelt/Getty Images)

 

Grande Communications, a division of Astound Broadband, said Tuesday that it has purchased Harris Broadband, provider of internet, voice and television services to about 6,000 customers in Central Texas.

The deal, terms of which were not disclosed, will fill out Grande’s Texas footprint, which includes Dallas, Austin, San Antonio, San Marcos, Corpus Christi, Waco, Temple, Houston and Midland/Odessa. In addition to about 6,000 customers in Brownwood and Early, Texas, , the deal will add 12,500 homes-passed and 150 miles of fiber plant to Grande’s operations in the state. The deal is expected to close later this year.

“We expect to combine Harris Broadband’s localized expertise and leadership with our broader network and resources to provide more services to more customers throughout Central Texas and beyond,” Astound Broadband and Grande Communications CEO Jim Holanda said in a press release. “We will leverage best practices from our family of companies to build upon Harris’s long track record of success in providing advanced broadband services.”

The deal comes weeks after Astound agreed to buy systems in Anne Arundel, Maryland; Chicago and Evansville, Indiana systems from overbuilder WideOpenWest for $661 million. 

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“We’re excited to become a part of the Grande Communications family,” said Harris Broadband president Philip Harris in a press release. “This transaction provides us with access to nationally recognized technical expertise, highly regarded operational management systems and processes, and unparalleled financial acumen to further the expansion of Harris Broadband. Moreover, this transaction is great for not only customers we currently serve, but surrounding communities in and around Brownwood and Early.”

Houlihan Lokey served as Harris’s financial advisor on the sale process. Seyfarth Shaw LP served as Grande’s legal adviser on the deal.  

Mike Farrell is senior content producer, finance for Multichannel News/B+C, covering finance, operations and M&A at cable operators and networks across the industry. He joined Multichannel News in September 1998 and has written about major deals and top players in the business ever since. He also writes the On The Money blog, offering deeper dives into a wide variety of topics including, retransmission consent, regional sports networks,and streaming video. In 2015 he won the Jesse H. Neal Award for Best Profile, an in-depth look at the Syfy Network’s Sharknado franchise and its impact on the industry.