Verizon announced an agreement on Thursday to acquire Frontier Communications for $20 billion in an all-cash transaction. The acquisition will significantly expand Verizon’s fiber network, extending its reach to 25 million homes and businesses across 31 states and Washington, D.C., and increasing its ability to deliver broadband and mobility services across the country, the company said.
Frontier is currently the largest fiber-only internet provider in the United States and has invested more than $4.1 billion in recent years to upgrade and expand its fiber network, according to the companies.
Frontier’s 2.2 million fiber subscribers across 25 states will be integrated into Verizon’s existing network, adding to Verizon’s approximately 7.4 million Fios (Fiber-optic service) connections. Frontier has also committed to expanding its fiber footprint with 2.8 million more fiber locations by 2026.
