Astound Broadband on Monday announced it completed the acquisition of the broadband systems of WideOpenWest Inc., or WOW!, located in Chicago, Evansville, Indiana, and Anne Arundel, Maryland, for $661 million. The acquired broadband systems serve approximately 128,000 residential and business customers, pass more than 700,000 homes and include 5,700 miles of plant.
With the closing of this transaction, Astound, the sixth-largest cable operator in the U.S., which operates leading regional providers out of Princeton, RCN, Grande, Wave and enTouch, expands its existing network footprint and customer base in these new markets.
“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,” said Jim Holanda, CEO of Astound Broadband. “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.”
Since announcing the sale in June 2021, WOW! has worked with Astound Broadband to ensure a seamless transition of its employees and customers to Astound Broadband. WOW! has entered into a Transition Services Agreement with Astound Broadband to support continuity of service during the transition period following the completion of the transaction.
JP Morgan and Morgan Stanley are acting as financial advisers to Astound and Simpson Thacher & Bartlett LLP is serving as legal adviser. Kelley Drye & Warren LLP is acting as regulatory adviser, with Deloitte & Touche LLP serving as tax and accounting adviser.