Cincinnati Bell has been cleared to close on its acquisition of Hawaiian Telcom, announcing Tuesday that the FCC signed off on the approximately $650 million deal.
The deal is expected to close on July 2, roughly a year after it was first announced.
Cincinnati Bell has previously said that the combination gives it access to both the Honolulu market, and growing communities on neighboring islands. The company also gains access to 2.6 TB of Trans-Pacific fiber cable capacity linking Asia and the U.S.
The deal expands Cincinnati Bell’s fiber footprint, netting the company Hawaiian Telcom’s 4,300 miles of fiber.
“Now we have fiber in two territories and we can be the provider of the next generation network right as 5G…is about to take over and right as big carriers want deep fiber everywhere,” Cincinnati Bell CEO Leigh Fox told the Cincinnati Business Courier in January.
Cincinnati Bell said both operations will retain their respective names and brand identities, but share best practices and resources.
“We are excited that this final regulatory approval has cleared the way for us to combine these two great businesses,” Fox said in a statement. “Together, Cincinnati Bell and Hawaiian Telcom will be a stronger communications and technology company that will foster greater innovation as we build scale and fiber density across our footprint. This is a significant development for us and for our customers, bringing us one step closer to delivering more competitive products and services, including continuing to expand the Next Generation Fiber Network to customers across Hawai‘i.”