WaveDivision Capital, LLC, expects the $1.35 billion deal announced last May to acquire the northwestern U.S. operations of Frontier Communications to close this spring. With that milestone upcoming, the company has begun to discuss its plans, including the formation of Ziply Fiber, the name under which its new assets will operate. Ziply will invest $100 million in network improvements among its first initiatives.
WaveDivision agreed to acquire Frontier’s operations in Washington, Oregon, Idaho, and Montana in partnership with Searchlight Capital Partners, LLC (see “Frontier to sell northwestern operations to WaveDivision Capital”). In its Ziply incarnation, the former Frontier business will be headquartered in Kirkland, WA, with major offices in Everett, WA; Beaverton, OR; and Hayden, ID. Harold Zeitz will be CEO. Other executives include CFO Wayne Schattenkerk, COO Brian Stading, CTO Bambang “Bam” Liem, Chief Legal Officer Byron Springer, and Executive Chairman Steve Weed. Weed is CEO of WaveDivision Capital, where Zeitz and Schattenkerk are managing directors.
“We are kicking off network upgrades literally on Day 1 with our initial $100 million investment and that is just the beginning,” said Zeitz. “We’re building the most advanced fiber network anywhere and combining the speed and reliability it offers with refreshingly great service. We’re confident that customers will respond well to Ziply Fiber’s quality and service and also to how we do business.”
The new company’s current fiber broadband network footprint passes “within a few feet” of 31% of the more than 1.6 million residential and business locations Ziply Fiber will serve, says the company. Ziply plans to increase the number of fiber-passed locations to more than 80% “in the next few years.”
Ziply will offer customizable packages of internet, voice, and video services to residential and business customers. Residential customers will not be required to sign a services contract.
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