In what Cable One’s President and CEO Julie Laulis is asking a dedication to rural America, the cable firm is buying the remaining stakes in regional telecom agency Hargray Communications in a deal valued at $2.2 billion. Cable One is already a minority investor Hargray, and as soon as the deal is finalized within the second quarter of 2021, Cable One would be the broadband firm’s sole proprietor.
Hargray was based within the Lowcountry area of South Carolina and delivers broadband communications to 125,000 prospects all through South Carolina, Georgia, Alabama and northern Florida. Based on a press release, Hargray has almost doubled its buyer base during the last 4 years, even getting into two new states — Alabama and Florida — via a mix of eight acquisitions and ongoing natural progress funding. The corporate additionally invested greater than $300 million in community enlargement and enchancment efforts.
Cable One is hoping to make the most of the progress made by Hargray within the area, as the corporate has been trying to broaden its presence into the Southeastern U.S. markets.
“Our acquisition of Hargray displays a continuation of our dedication to offer rural America with dependable high-speed web service,” stated Laulis. “It has been a pleasure to work with Hargray’s investor group led by TPO. Hargray’s regional focus, native values, and ongoing funding in technological developments and buyer care are strikingly like our personal. We’re excited to welcome our new Hargray colleagues as we work collectively to attain future progress and proceed to construct upon Hargray’s dedication to buyer delight.”
Based on Hargray, current providers won’t be interrupted for current prospects, however that over time, Cable One will “carry much more superior providers to residents and companies in Hargray’s communities.”