Cable One Inc, formerly a 15 percent minority shareholder of Hargray Communications, is now its principal shareholder thanks to a $2.2 billion deal, reports Capacity Media. The Pritzker Organization (TPO) investment group acquired its share of Hargray in 2017. Hargray is based in South Carolina and has a customer base of 125,000 people in several southern states.
“Our acquisition of Hargray reflects a continuation of our commitment to provide rural America with reliable high-speed internet service,” said Cable One President and CEO, Julie Laulis. Hargray has concentrated on broadband outreach to underserved markets. Its growth over the past four years has allowed it to direct its attention to emerging markets and investment strategies. The company currently has network investments valued at approximately $300 million.
“It has been a pleasure to work with Hargray’s investor group led by TPO,” stated Laulis. “Hargray’s regional focus, local values, and ongoing investment in technological advancements and customer care are strikingly like our own. We are excited to welcome our new Hargray colleagues as we work together to achieve future growth and continue to build upon Hargray’s commitment to customer delight.”