Kirkland-based fiber internet company Ziply Fiber is acquiring Ptera, a fiber internet company based in Liberty Lake, outside Spokane.
The acquisition was announced Thursday and marks Ziply Fiber's fourth acquisition since June, according to the company. The companies aren't disclosing the financial terms of the deal, which the companies expect to close later this year.
"Both of our companies have been focused on a similar mission to connect communities that have been underserved when it comes to reliable, high-speed internet,” Harold Zeitz, CEO of Ziply Fiber, said in a release. “We look forward to having the Ptera employees join the Ziply Fiber team."
A Ziply Fiber spokesperson said Ptera has roughly 25 employees, all of whom are joining Ziply Fiber, which has about 1,500 employees. No changes planned to the Ptera brand or for Ptera customers.
Ptera, founded in 2001, offers fiber internet and fixed wireless internet. The company provides service to more than 4,000 customers in Eastern Washington and North Idaho. Ptera has both residential and commercial customers.
Ziply Fiber, meanwhile, formed in 2020 when investment firms Searchlight Capital Partners and Kirkland-based WaveDivision Capital purchased the Northwest business from telecommunications company Frontier Communications in a $1.35 billion deal announced in 2019. Ziply Fiber's services include fiber internet, phone and TV streaming. The company focuses on more rural and suburban areas rather than dense cities in its service area of Washington, Oregon, Idaho and Montana.
Ziply Fiber has raised serious capital since launching. In September, the company raised $450 million, building on a $350 million round Ziply Fiber raised in October 2021. In December, the company announced it was acquiring the fiber internet company iFiber Communications, headquartered in central Washington. Besides Kirkland, Ziply Fiber has offices in Everett; Beaverton, Oregon; and Hayden, Idaho.
"I’m very proud of the work our team has done to earn the trust and support of our customers across the inland Northwest," Ptera CEO Steven Wilson said in a release. "I’m excited about this next chapter for the company and our future together with Ziply Fiber.”
