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Knology Wraps PrairieWave Buy

Knology closed its previously announced acquisition of PrairieWave Communications.

The $255 million cash deal was originally announced in January.

Knology said it entered into a $555 million first-lien term-loan facility with proceeds used to fund the purchase price, refinance its existing first-lien and second-lien credit facilities and pay related transaction costs.

PrairieWave currently serves approximately 57,000 residential customers and 7,200 business customers in two primary market areas surrounding Sioux Falls and Rapid City, S.D., representing more than 156,000 broadband connections, including some 70,000 voice, 46,000 video and 40,000 Internet connections.