Clarity Telecom Infrastructureand corporate parent Pamilico Capital announced this week that they'd completed their $262 million cash deal to get broadband systems and assets, which are observed in South Dakota, Minnesota and Iowa from WOW!
Clarity said it'd transition the platform over from WOW! in the coming months and recast the operation as Vast Broadband. Vast Broadband provides triple play services to more than 50,000 residential and commercial subscribers. The deal was announced in June with this year.
Pamlico initially partnered with Clarity's management team in 2003 to create New Wave Communications, that has been a rural broadband company that grew to serve 160,000 subscribers. After exiting NewWave through transactions with Time Warner Cable in 2011 and Rural Broadband Investments (2013), Pamlico partnered with Jim Gleason, Keith Davidson, and Larry Eby to produce Clarity Telecom, a search company formed to pursue rural broadband opportunities.
Clarity's team targeted WOW!' s systems in South Dakota, Minnesota and Iowa, which WOW! had acquired through its acquisition of Knology in 2012. A number of the systems have been served by PrairieWave Communications, which Knology bought in 2007 for $255 million. PrairieWave also had some operations in Iowa and Minnesota.