The investment firm Stonepeak has entered into a definitive agreement to acquire Astound Broadband for $8.1 Billion, the sixth largest U.S. cable operator in the United States.
The company has built modern, top-quality, high-speed communications infrastructure networks that offer gigabit speeds serving eight of the top ten largest metro areas throughout the United States. RCN, Grande, Wave and enTouch serve over one million customers with 23,000 miles of fiber across Chicago, Eastern Pennsylvania, Massachusetts, New York City, Northern California, Oregon, Texas, Washington, DC., and Washington.
The Partner at Stonepeak, Brian McMullen said:
“We are delighted to partner with Steve, Jim and the Astound team for the next chapter of growth. Astound is the premier operator of critical broadband infrastructure in the United States with a long history of delivering market leading customer service and network performance to communities across the country.
In our increasingly connected society, we believe there is an extraordinary opportunity to deliver faster speeds and greater coverage, fundamentally enabling many aspects of everyday life.”
David Trujillo, Partner at TPG said :
“We’ve had a long-held theme and belief in the growing value of broadband infrastructure, culminating in our successful investment in Astound Broadband, in partnership with Patriot Media,”
“We’re proud to have been part of the company’s journey, which has been characterised by significant platform expansion, strong growth and great leadership. We wish Steve, Jim and the outstanding Patriot management team well, as they continue to grow Astound in partnership with Stonepeak.”
