June 13 (Reuters) - Brookfield Infrastructure Partners ( BIP/PA )
has struck a deal to buy internet service provider
Hotwire Communications, valuing the company at around $7
billion, including debt, people familiar with the matter said on
Friday.
Hotwire is being acquired from current owner Blackstone
, which holds the investment across both its
Infrastructure Partners and Tactical Opportunities arms.
The people spoke on condition of anonymity to discuss
confidential information ahead of a formal announcement, which
was expected shortly, per one of the sources.
Blackstone and Brookfield both declined comment.
The Wall Street Journal first reported the news, citing
people familiar with the matter.
Co-founded in 2000 by Michael Karp and Kristin Johnson,
Hotwire provides fiber network internet service to consumers,
with a focus on commercial and community-living customers,
according to its website.
Blackstone bought the company in 2021 for an undisclosed
amount, and helped grow the business, including expanding its
operations from its original four-state footprint in the U.S.
Southeast. Hotwire now offers internet in nine states, including
Texas, California and Pennsylvania.