Almost a year to the day after announcing its intentions, Cincinnati Bell (NYSE: CBB) reports it has closed its acquisition of Hawaiian Telcom Holdco, Inc. The service provider installed John Komeiji into the president and general manager’s chair at its new asset, which will continue to operate under the Hawaiian Telcom name. Cincinnati Bell announced July 10, 2017, that it would buy the Hawaiian telco for approximately $650 million in cash and stock (see "Cincinnati Bell to acquire Hawaiian Telcom, OnX Enterprise Solutions").
The addition of Hawaiian Telcom expands Cincinnati Bell’s overall footprint, improves route diversity within its fiber infrastructure, and offers a gateway to Asia for business customers thanks to Hawaiian Telcom’s access to the SEA-US submarine cable network (see "SEA-US undersea cable system bringing broadband speeds to Hawaii is ready for service"). “Today marks a tremendous milestone for Cincinnati Bell and Hawaiian Telcom as we take an important step together toward expanding our portfolio of next-generation fiber offerings and securing fiber density value for our customers and shareholders,” said Leigh Fox, president and CEO of Cincinnati Bell. “Fiber density remains a key market differentiator in an increasingly competitive environment. By allowing us to better anticipate and capitalize on the fast-growing demand for strategic fiber offerings, this combination positions our company to be at the forefront of innovation in telecommunications and establishes a platform for future growth.”
The company says it plans to invest in Hawaiian Telcom’s local infrastructure, including its Next Generation Fiber Network, to better serve local customers. Komeiji, most recently Hawaiian Telcom’s chief administrative officer and legal counsel, will head the unit. Meanwhile, Cincinnati Bell has added a pair of Hawaiian Telcom board members, Walter A. Dods, Jr. and Meredith J. Ching, to its board.
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