In what Cable One’s President and CEO Julie Laulis is calling a commitment to rural America, the cable company is purchasing the remaining stakes in regional telecom firm Hargray Communications in a deal valued at $2.2 billion. Cable One is already a minority investor Hargray, and once the deal is finalized in the second quarter of 2021, Cable One will be the broadband company’s sole owner.
Hargray was founded in the Lowcountry region of South Carolina and delivers broadband communications to 125,000 customers throughout South Carolina, Georgia, Alabama and northern Florida. According to a press release, Hargray has nearly doubled its customer base over the last four years, even entering two new states — Alabama and Florida — through a combination of eight acquisitions and ongoing organic growth investment. The company also invested more than $300 million in network expansion and improvement efforts.
Cable One is hoping to take advantage of the progress made by Hargray in the region, as the company has been looking to expand its presence into the Southeastern U.S. markets.
“Our acquisition of Hargray reflects a continuation of our commitment to provide rural America with reliable high-speed internet service,” said Laulis. “It has been a pleasure to work with Hargray’s investor group led by TPO. Hargray’s regional focus, local values, and ongoing investment in technological advancements and customer care are strikingly like our own. We are excited to welcome our new Hargray colleagues as we work together to achieve future growth and continue to build upon Hargray’s commitment to customer delight.”
According to Hargray, existing services will not be interrupted for existing customers, but that over time, Cable One will “bring even more advanced services to residents and businesses in Hargray’s communities.”
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