WOW! Internet, Cable & Phone plans to purchase Georgia-based Internet service provider Knology, according to a Wednesday press release.

The deal is reported to be worth $1.5 billion. "We are proud of our team's accomplishments over the years, from our company-wide focus on serving our residential and commercial customers to the creation of significant shareholder value," says Knology CEO Rodger Johnson.

Knology, Inc., is currently headquartered in West point, Georgia. The deal awaits stockholder and regulatory approval.

Tags: technology, West Point, Knology