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Wave Adds More Fiber To M&A Diet

WaveDivision Holdings has acquired Capacity Provisioning Incorporated, a privately held fiber-based Metro Ethernet provider based in Port Angeles, Wash.

Wave, which serves about 420,000 busines and residential customers in parts of Washington, Oregon and California, said CPI is the largest of its kind on the Olympic Peninsula, where it serves commercial and government entities in Port Angeles, Sequim and surrounding areas.

The acquisition of CPI follows Wave’s purchases of two other fiber-based providers last year: Black Rock of Bellingham, Wash.; and Seattle-based Spectrum Networks.

Wave said it will retain all CPI employees, adding that CPI’s business focus complements Wave’s residential service. Wave has provided residential broadband service in Port  Angeles and Sequim since its founding in 2003, and recently expanded to more markets on the Olympic Peninsula, including Port Townsend, Port Hadlock, and Port Ludlow.

Wave and CPI have also extended a longstanding agreement between CPI and the City of Port Angeles through September 2024 as part of this transaction.

"This transaction adds considerable fiber assets, a strong base of local government and business customers, and most importantly great employees who've built and delivered an outstanding service experience for the customer," said Steve Weed, Wave CEO, in a statement. "We are excited to be working with the CPI team and can now focus on providing best-in-class broadband products and service to both residential and business customers throughout the Olympic Peninsula."