Wave Broadband says it has raised an additional $130 million to further expand its West Coast gigabit Ethernet fiber network and various business services such as co-location facilities and voice solutions. Wave's financing for the expansion consists of a corporate bond sale worth approximately $130 million.
The planned expansion includes entry to new markets, increased capacity and redundancy in existing markets, and infrastructure development to support future growth. Wave's expansion plans include:
Expanding its network into areas surrounding Seattle, Portland and San Francisco with the addition of more than 1,500 route miles of fiber in 2015
Completing multiple redundant fiber rings between California markets including Concord, San Jose, Sacramento, and San Francisco with virtual cross-connect services to multiple Bay Area data centers
Expanding residential gigabit Internet service to an additional 10,000-plus residents this year in Seattle, with expansion to San Francisco and other markets in 2015 and beyond
Introducing new business services such as hosted PBX and co-location facilities to its existing IP transport and virtual cross-connect products
Expanding the company's construction organization to support additional network expansion in West Coast California, Oregon and Washington markets
In other Wave news, the company has named longtime Wave executive Steve Friedman to the new post of executive vice president of fiber design and construction. Wave has also named Harold Zeitz company president and COO, to lead the continued growth and successful operation of Wave's business units.
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