TPG Capital, the global private equity platform of alternative asset firm TPG, has confirmed that it has closed its previously announced acquisitions of RCN Telecom Services and Grande Communications Networks, two regional US cable providers. The combined company will serve markets in Austin, Boston, Chicago, Dallas, Lehigh Valley, New York, Philadelphia, San Antonio, and Washington, DC. According to TPG, the combined company is now the seventh largest US cable company by subscribers. As previously reported by TeleGeography’s CommsUpdate, on 15 August 2016 TPG Capital announced that it had entered into two definitive agreements to acquire RCN and Grande in separate transactions from ABRY Partners for USD1.6 billion and USD650 million, respectively.
In other US M&A news, TDS Broadband Service, a subsidiary of Telephone and Data Systems, and operated by TDS Telecom, has completed the acquisition of InterLinx Communications and its subsidiary Tonaquint Networks in Southern Utah. TDS announced its intent to purchase the companies in November 2016 and completed the sale on 31 January 2017. InterLinx provides wholesale fibre connections to businesses, as well as to local ISPs and large carrier customers. Tonaquint Networks provides residential and business services via both fibre-to-the-premises (FTTP) and wireless internet technologies.