Private equity groups Oak Hill Capital and GI Partners have reportedly hired bankers to explore a possible sale of Seattle-based Wave Broadband, seeking as much as $2 billion in a deal.
Wave Broadband has about 138,000 video customers in the Northwest and in the past several years has focused on high-speed data growth. The company, which overbuilds Comcast in a small part of the San Francisco market, also has operations in Washington and Oregon, including the Portland and Seattle areas. Wave has been snapping up ISPs and fiber businesses in the past several months in an effort to bolster its Gigabit data offerings.
News of the auction was first reported by Reuters, which said the private equity players had hired UBS to conduct an auction for Wave.
Wave declined comment.
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