Texas-based TPG Capital has agreed to purchase two telecommunications companies in separate deals totaling $2.25 billion.
TPG says the seller is Boston-based ABRY Partners. TPG will buy Grande Communications Networks for $650 million. RCN Telecom Services is being sold for $1.6 billion.
The deal, announced Monday by Fort Worth-based TPG, is expected to close in the first quarter of 2017 pending regulatory approval.
Grande Communications provides internet, TV and telephone services in Austin, Corpus Christi, Dallas, Midland-Odessa, San Antonio, San Marcos, Waco and the Temple area. The company serves more than 160,000 customers.
RCN offers services in Boston, Chicago, Washington, D.C., New York City and parts of Pennsylvania
Copyright AP - Associated Press
