Wave acquires Port Angeles-based CPI
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The terms of the deal were not disclosed.
The sale is effective immediately, according to Business Wire, www.businesswire.com/.
The transaction will not impact CPI customers or employees, with all services continuing without interruption, Business Wire said.
Wave will retain all CPI employees.
WaveDivision is a business-class fiber optic and broadband services company with business and residential customers in Washington, Oregon, and California.
CPI is the largest privately owned fiber-based metro Ethernet provider on the Olympic Peninsula, focused on serving businesses and government entities in Port Angeles, Sequim and surrounding areas.
Since its founding in 2003, Wave has provided the Port Angeles and Sequim area with residential broadband services and recently expanded to more markets on the Olympic Peninsula, including Port Townsend, Port Hadlock and Port Ludlow.
The Port Hadlock store at 10712 Rhody Drive, Suite 101, will celebrate a grand opening from 2 p.m. to 6 p.m. Friday, Wave Broadband reports on its website, www.wavebroadband.com. Food, refreshments and information on new services will be offered.
CPI’s previous owners are in a consulting relationship with Wave through the business transition process.
Wave CEO Steve Weed said that Wave and CPI have also extended a long-standing agreement between CPI and the city of Port Angeles through September 2024 as part of this transaction.
Initially signed in 2002, this agreement provided for the design and implementation of an interconnecting fiber optic ring encircling Port Angeles to deliver high-speed fiber optic point-to-point connections and Internet service to the city of Port Angeles and area businesses.
Other CPI customers include Clallam County, Olympic Medical Center, the Port Angeles School District, Peninsula College and several other area organizations, Business Wire said.
This is the 16th acquisition in Wave’s 11-year history and follows two similar fiber acquisition deals: Wave’s purchases of Bellingham-based Black Rock and Seattle-based Spectrum Networks (and its CondoInternet subsidiary), both completed in 2013.
Last modified: March 12. 2014 11:12AM