Washington, DC, (February 11, 2021) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services, announced today that Digital West Holdings, Inc. (Digital West), a provider of fiber optic connectivity and related services for thousands of business customers in California’s Central Coast region, has been acquired by Wave Broadband, a division of Astound Broadband. FOCUS advised Digital West in the transaction.
Digital West has been serving business customers in the Central Coast for more than two decades and owns and operates a robust fiber optic network in and around its headquarters in San Luis Obispo, California. Digital West will operate within the Wave Broadband region as part of Wave Business Solutions. The companies plan to commit resources toward enhancing products, services and value for Digital West customers in the future. Digital West’s current CEO Tim Williams and President Jeff Buckingham will remain with Digital West and continue to focus on growing Wave Broadband’s business in the Central Coast.
“We are excited to be partnering with Wave Broadband and are looking forward to this next chapter in the Digital West story,” said Williams. “Our company had established a strong foundation in the Central Coast region, but simply lacked the financial resources to fully capitalize on all of our potential growth opportunities. By combining with Wave Broadband, we have a partner that can help us execute our growth plan. FOCUS was instrumental in helping us find the best partner for our business and guiding us through the transaction process from start to finish.”
“Tim and his team have done a great job building the Digital West business,” said FOCUS Managing Director and Telecom Technology & Services Team Leader Rich Pierce. “They have also provided a valuable community service by bringing top notch, fiber-based broadband services to an area of California that has historically fallen under the radar screen of the large national operators. We wish them success in their continued efforts to expand their fiber network and grow their customer base.”
“The Central Coast is home to a fast-growing and dynamic business community, one which we believe can benefit significantly from the combined services and capabilities our companies provide,” said Jim Holanda, Astound Broadband CEO. “Our resources will enable Digital West’s talented local team to connect area business customers over our combined network to more locations in California and across the country, leveraging our technology and capital to broaden Digital West’s service offerings and accelerate their growth.”
About Digital West
Digital West delivers fiber optic connectivity, colocation, cloud services, digital business applications and telephony to businesses that demand high quality products and outstanding reliability. Based in San Luis Obispo, California, Digital West serves commercial clients, including carriers, small businesses, and medium-to-large enterprise clients with custom infrastructure needs. For more information, please visit digitalwest.com.
About Astound Broadband
Together, Wave Broadband, RCN Telecom Services, LLC, Grande Communications, and enTouch Systems form the sixth largest U.S. cable operator and provide award-winning high-speed internet, broadband communications solutions, digital TV, phone services and fiber optic solutions for residential and business customers across the United States. Wave, RCN, Grande, and enTouch serve areas of Northern California, Oregon and Washington (Wave); Chicago, Eastern Pennsylvania, Massachusetts, New York City, and Washington, DC (RCN); and Texas (Grande Communications and enTouch Systems).
About FOCUS Investment Banking
With more than three decades of experience, FOCUS Investment Banking is a trusted name in middle market M&A advisory services worldwide. Whether helping to sell, buy, or raise capital, FOCUS strives to maximize the value of every transaction for the benefit of its clients. Securities transactions conducted by FOCUS Securities LLC, an affiliated company, registered Broker Dealer member FINRA/SIPC. For more information, visit www.focusbankers.com.
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