Kirkland-based WaveDivision Holdings is adding another broadband company to its expanding network of fiber-optic-cable providers running up and down the West Coast.
Wave announced today it is acquiring Port Angeles-based Capacity Provisioning Inc. (CPI), the largest privately owned fiber-based metro Ethernet provider on the Olympic Peninsula. The terms of the deal were not disclosed.
Wave, the parent company of Wave Broadband, has been acquiring broadband companies since Steve Weed founded it in 2003 in an effort to market fast Internet to residents and businesses.
This is the 16th acquisition in the company’s 11-year history and follows two similar fiber-acquisition deals last year: the purchases of Bellingham-based Black Rock and Seattle-based Spectrum Networks (and its CondoInternet subsidiary).
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“We want to increase the amount of companies that can get our service and the way to do that is to build out our fiber network,” Weed said. “It is a dual strategy — building and acquiring.”
Wave provides high-speed Internet, cable-TV and phone services to more than 420,000 customers in Washington (including in the Seattle area), Oregon and California and has more than 200,000 miles of fiber optic cable running along the West Coast.
For the past three years, the company has been working to expand its presence with businesses.
CPI started as a broadband-service provider in 2001 and services many businesses and organizations, including the city of Port Angeles, Clallam County, Olympic Medical Center, Port Angeles School System and Peninsula College.
With more than 100 miles of fiber-optic cable in and around Port Angeles, stretching from the west side of Port Angeles to the east end of Sequim, Weed said CPI was the perfect company to acquire on the peninsula.
“We have known them a long time, and given we are aggressively building our own portfolio and buying well-run companies, these guys fit perfectly for that,” Weed said.
Wave will retain all four CPI employees and has extended a longstanding agreement between CPI and the city of Port Angeles through September 2024.
Coral Garnick: 206-464-2422 or firstname.lastname@example.org. On Twitter @coralgarnick