Knology Pays $255 Million for PrairieWave

Knology Inc. (Nasdaq: KNOL) has agreed to acquire PrairieWave Communications Inc., a Sioux Falls, S.D.-based provider of communications services in South Dakota, Minnesota and Iowa. The deal is valued at approximately $255 million, and is expected to close by June 30. PrairieWave is backed by Alta Communications and Banc of America Capital Investors.