When independent telco SureWest Communications acquired Everest Broadband in December 2007, it looked like consolidation among network over-builders could be the next big trend. Triple play service provider and cable over-builder Grande Communications followed the Everest Broadband sale by putting itself on the auction block just weeks later, but a buyer never emerged and such deals seemed destined to wait on the sidelines as debt and credit markets worsened. Now, according to several published reports, Texas-based Grande has suggested in a filing with the Securities and Exchange Commission that it is "aware" of another company trying to raise money to acquire Grande.
Private equity firm Abry Partners reportedly has been interested in Grande, though it is not clear that this is the company that Grande referred to in its filing. Grande has about 146,000 customers.
- Telephony has this report
Grande started exploring strategic alternatives in January 2008
The Everest Broadband buy has boosted SureWest's numbers