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TPG Capital has closed on its $2.36 billion acquisition of Wave Broadband, creating the sixth largest cable company in the U.S.

TPG previously purchased both RCN and Grande Communications through separate transactions and in May the firm announced plans to buy Wave and create a combined company.

“By combining RCN/Grande and Wave, we are creating a leading, national-scale internet provider and cable TV operator with significant growth potential,” Jim Holanda, CEO of RCN/Grande, said in a statement. “We are pleased to announce the close of this transaction, and look forward to our continued growth led by a strong focus on customer service and commitment to providing the highest quality high-speed internet, TV, and voice services available.”

Kirkland, Wash.-based Wave will continue to operate as a branded entity serving business and residential customers in Washington, Oregon and California. RCN provides similar services along the East Coast and in Chicago, while Grande operates in Texas.

Together the companies have a footprint in seven of the top 10 DMAs and nearly 950,000 data, voice and video customers.

As part of the deal, Wave Founder and CEO Steve Weed joined RCN/Grande as a director.

“Together, RCN/Grande and Wave create a market-leading broadband platform with national reach,” David Trujillo, partner at TPG, said. “The combined platform is providing businesses and residents across the country with fast, high-quality, and reliable communications services that allow them to rapidly access the content they crave. We look forward to our continued work with the RCN/Grande and Wave teams.”

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