It was formed on January 24, 2018, with the completion of the $2.36 billion purchase of Kirkland-based Wave Broadband by private-equity firm TPG Capital.

[1][2][3][4] While TPG held the Internet providers as an unnamed collective unit, they somewhat maintained independence from each other despite sharing resources.

[5][6] Less than two months later, Stonepeak Infrastructure Partners announced on November 1 that it would purchase the unit, by then named Astound after a previous name used by Wave in San Francisco, from TPG for $3.6 billion along with $4.5 billion in debt through a leveraged buyout;[6][7][8] TPG had explored selling Astound due to the increased demand for Internet bandwidth during the COVID-19 pandemic.

[9] Astound's expansion continued with its purchase of San Luis Obispo-based Digital West on January 26, 2021, also for an undisclosed sum.

On May 1, 2015, Astound Broadband in San Francisco adopted the parent company's name and was rebranded Wave, which offers the same services to the same geographical areas.