GFiber to combine with Astound

"GFiber has always been about pushing the boundaries of what's possible for internet speed and service. This partnership with Astound and Stonepeak is the next step in our decade-long mission to redefine what customers can expect from their internet provider. It's a strategic opportunity to scale our customer-focused approach to connect more households to a truly different type of internet service."

"This partnership will be transformational for the businesses, with GFiber and Astound's complementary networks and extraordinary teams enabling the combined company to better serve millions of customers and the demand for a next generation network and ubiquitous connectivity."

"The transaction advances GFiber's mission of redefining internet connectivity and represents a major step toward its goal of operational and financial independence. The deal with Astound provides GFiber with the external capital and strategic focus needed to accelerate its growth."

GFiber is combining with Astound Broadband to form a new company majority-owned by investment firm Stonespeak, while Alphabet remains a significant minority shareholder. The transaction is expected to close in the fourth quarter pending regulatory approvals. GFiber's executive team will lead the merged entity, leveraging GFiber's high-growth metropolitan networks alongside Astound's established infrastructure and capabilities. The deal provides GFiber with external capital and strategic resources to accelerate growth and advance its mission of redefining internet connectivity. The partnership enables the combined company to scale operations, serve more customers, and deliver next-generation network services with enhanced connectivity.

Read at Telecompetitor