POSTED: 12:05 p.m. HST, Dec 31, 2012
Hawaiian Telcom announced today it has completed its acquisition of Honolulu-based telecommunications provider Wavecom Solutions for $9.6 million.
The deal gives Hawaiian Telcom access to Wavecom’s interisland fiber optic network -- a move that will allow Hawaiian Telcom it to expand its “next generation” services across the state.
Wavecom, founded in 2001 as Pacific Lightnet, offers a range of voice and data services to mostly small and medium-sized businesses as well as other telecom carriers. Wavecom has about 60 employees and 1,700 customers statewide.
“We are pleased that the acquisition has closed and we can welcome Wavecom Solutions’ employes and loyal customers into our Hawaiian Telcom Family,” Eric Yeaman, Hawaiian Telcom CEO said in a news release.
“By adding Wavecom Solutions’ fiber network and business capabilities to our technology and operations we’ll enhance our ability to serve growing customer demand for high speed internet and advanced communications,” Yeaman said.
Hawaiian Telcom in July announced its plan to buy the stock of Wavecom. Regulatory approvals from the Federal Communications Commission and the state Public Utilities Commission were obtained on Dec. 28.