Texan ISP EnTouch Systems has revealed that it has agreed to be acquired by alternative asset firm TPG, which already owns US operators RCN, Grande Communications Networks and Wave Broadband. EnTouch provides broadband, pay-TV, voice telephony and home security services in the greater Houston, Texas area and is viewed by the acquisitive parties as a natural fit and extension of the Texas footprint of Grande Communications, which currently includes Dallas, Austin, San Antonio, Corpus Christi, Waco and Midland/Odessa. The transaction is expected to close later this year and is subject to customary closing conditions, including regulatory approvals.
TeleGeography notes that TPG entered into definitive agreements to acquire RCN (USD1.6 billion) and its sister company Grande Communications Networks (USD650 million) through separate transactions back in August 2016. In January 2018 TPG closed the previously announced USD2.4 billion acquisition of Washington-based Wave Broadband. The three companies are now understood to be part of TPG’s Radiate Holdco unit. Entering Houston will solidify the group’s presence in eight of the ‘Top Ten’ designated market areas in the US.
Jim Holanda, CEO of RCN, Grande and Wave, commented: ‘Since the combination of RCN, Grande and Wave, our company has seen tremendous growth. The addition of EnTouch is a natural next step, expanding our fibre-rich network by 1,400 miles and adding 22,000 residential and business customers in the largest city in Texas.’