With its $1.3 billion dollar deal to buy Frontier’s Northwest territory now closed, WaveDivision Capital began operating Friday under its subsidiary, Ziply Fiber, providing internet, phone and TV services to nearly 500,000 customers while also retaining 960 former Frontier employees.
Leading Ziply is Harold Zeitz, the former managing director at WaveDivision Capital and former president of Wave Broadband. According to GeekWire, WaveDivision Capital, an investment company operated by the founder of Wave Broadband and several former executives, teamed up with Searchlight Capital Partners to make the purchase.
Approved by the Washington State Utilities and Transportation Commission in February, the acquisition dockets contain several consumer protection provisions including spending more than “$50 million to increase broadband coverage in the state, supporting the statewide transition to Next Generation 911, and reporting on financial and quality measures.”
The Herald Business Journal reported that rates will remain the same, but customers should notice faster download speeds this month. “Our current network passes about 1.7 million homes, about 30 percent of which can get fiber today, which delivers the fastest speeds,” Zeitz said. “Our goal is to bring fiber to over 80 percent of them.”