Cable One Inc. (NYSE: CABO) has agreed to purchase telecommunications and cable acquisition company Rural Broadband Investments LLC (RBI) from GTCR in a deal valued at approximately $735 million. The transaction is expected to close in the second quarter of 2017.

RBI touts itself as the nation’s 13th largest cable operator by homes-passed. Founded in 2012, the Overland, Kansas-based company is focused on acquiring broadband infrastructure assets that deliver communication services including cable television, telecom and broadband services. RBI targets rural-focused broadband assets that serve residential and business consumers in small and mid-sized communities, usually with population centers between 25,000 and 250,000 residents. In April 2013, GTCR-backed RBI purchased NewWave Communications and completed five add-on acquisitions aftewards.

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