Verizon Acquiring Rival Frontier Communications In $20 Billion Cash Deal
deadline.comVerizon Communications is acquiring Frontier Communications, the largest pure-play fiber internet provider in the U.S., in an in all-cash transaction valued at $20 billion.
The deal shakes up the high-speed landscape by significantly expanding Verizon’s fiber footprint and accelerating its delivery of premium mobility and broadband services to current and new customers.
It will also expand Verizon’s network for digital innovation in AI and IoT (Internet of Things). The merger will integrate Frontier’s fiber network into Verizon’s fiber and wireless assets, including Fios.
Frontier has invested $4.1 billion upgrading and expanding its fiber network, over the last four years, the companies said, and now derives more than 50% of its revenue from fiber products with 2.2 million subscribers across 25 states.
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