Atlanta, October 15th / PRNewswire / -- WaveDivision Capital ("Wave"), led by broadband industry executive Steve Weed, as well as The Pritzker Organization ("TPO") and Stephens Capital Partners ("SCP"), announced today that they have collaborated with the management team of EarthLink to acquire EarthLink. EarthLink is one of the largest internet service providers in the United States.

EarthLink is headquartered in Atlanta, Georgia, and currently serves over 500,000 internet and hosting service customers across the United States. By establishing strategic partnerships with some of the largest fiber optic and 5G providers in the United States, EarthLink has built a low-capital-intensive national network that can provide fiber optic internet services to more than 68 million households nationwide.

Wave CEO Steve Weed stated: "We are very pleased to collaborate with the management team and employees of EarthLink to further drive the company's growth. EarthLink has created a unique, low-capital-intensive national broadband platform. This platform is built on mutual trust among EarthLink, its partners, and customers, enabling EarthLink to offer new internet options to consumers and small businesses through simplified connection methods."

In 2019, Trive Capital collaborated with the management to separate this business from its previously listed parent company and has been working closely with the team ever since to expand the business, strengthen the technical platform, and develop wholesale partnerships. Shravan Thadani, a partner of Trive, added, "The success of EarthLink is truly a result of the joint efforts of the management and Trive; as Wave, TPO, and SCP continue to collaborate with the management and experience accelerated growth in the coming years, we are delighted to continue to support this business through minority equity investments."

EarthLink CEO Glenn Goad stated: "Over the past few years, we have transformed one of the most trusted brands in the internet industry into a reliable choice for consumers and small businesses across the United States. As internet access has become one of the most essential basic services in consumers' lives, EarthLink has been committed to making the best internet options more accessible to consumers at affordable prices. We are delighted to collaborate with Wave and its team, and to continue to drive EarthLink growth together with our trusted partners in fiber optics and 5G. We plan to expand our business into new markets and continue to bring these services to more consumers and small businesses. Our common goal remains unchanged: to provide the right technology at the right price, complemented by a world-class customer experience."

Bank Street Group serves as the exclusive financial advisor to WaveDivision Capital.

Other terms of the transaction were not disclosed.

About EarthLink

EarthLink is a leading internet service provider that offers reliable fiber and 5G internet solutions to families and businesses across the United States. EarthLink focuses on stable connections, flexible packages, and customer-centric services, providing broadband options designed to meet the needs of modern families and businesses. EarthLink is headquartered in Atlanta, Georgia, and serves over 500,000 customers. For more information, please visit earthlink.net.

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