March 13, 2014
Wheelings & Dealings: WaveDivision Holdings Acquires CPI
By Anil Sharma
WaveDivision Holdings has acquired Port Angeles, WA based Capacity Provisioning Incorporated (CPI), which is one of the largest privately owned fiber-based metro Ethernet providers on the Olympic Peninsula.
CPI owns an extensive network of fiber optic cable in and around Port Angeles, stretching from the west side of Port Angeles to the east end of Sequim, 22 miles away.
The transaction will not impact CPI customers or employees, with all services continuing without interruption.
“This transaction adds considerable fiber assets, a strong base of local government and business customers, and most importantly great employees who’ve built and delivered an outstanding service experience for the customer,” said Steve Weed, CEO, Wave, in a statement.
Weed said that the company can now focus on providing best-in-class broadband products and service to both residential and business customers throughout the Olympic Peninsula.
He said that Wave and CPI have also extended a longstanding agreement between CPI and the City of Port Angeles through September 2024 as part of this transaction.
This agreement, which was initially signed in 2002 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, a company press release said.
Craig Johnson (News - Alert), VP of CPI, said that since inception, the company’s philosophy and the foundation for CPI’s success has been to support the local communities by building partnerships with area businesses and with regional government entities.
“We are very pleased to be joining forces with Wave, as they not only understand this vision but have already taken steps, such as the renewed agreement with the City of Port Angeles, to ensure that we continue building on it together,” said Johnson.
CPI’s acquisition is the 16th acquisition in Wave’s 11-year history.
Earlier in September, WaveDivision Holdings, a business-class fiber optic and broadband services company with business and residential customers in Washington, Oregon, and California, had announced that it has acquired Spectrum (News - Alert) Networks and its subsidiary CondoInternet.
Based in Seattle, Spectrum is a wholesale provider of commercial Internet and transport service to businesses, while CondoInternet delivers Ethernet-to-the-home gigabit connections to condominiums and apartments in areas of downtown Seattle and Bellevue, WA.
Edited by Cassandra Tucker
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