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The deal transfers more than 4 million customer locations and an estimated more than 1 million fiber subscribers into AT&T’s footprint.
Edited by Brad Randall, Broadband Communities
AT&T has completed its acquisition of Lumen Technologies’ Mass Markets fiber business for $5.75 billion in cash, the company announced Monday.
The deal transfers more than 4 million customer locations and an estimated more than 1 million fiber subscribers into AT&T’s footprint across 11 states, expanding the telecom giant’s fiber network and customer base.
AT&T said the purchase will accelerate its plans to expand fiber coverage, including a target to reach more than 60 million total fiber locations by the end of 2030.
“AT&T Fiber, America’s best and top-rated technology for getting on the internet, will be available to millions more people as we expand the service in 32 states,” AT&T CEO John Stankey said in the statement.
He added the acquisition will create jobs, “boost U.S. connectivity” and give more consumers the option to purchase both fiber broadband and AT&T’s 5G wireless services from a single provider.
AT&T also linked the transaction to its broader commercial strategy, saying that combined fiber and wireless offerings can increase customer retention and generate higher returns from converged relationships.
The announcement contained the customary caveat that forward-looking statements are subject to risks and uncertainties and that actual results may differ. AT&T said it will integrate the acquired assets and expects to grow fiber penetration in the new footprint over time, positioning the company to strengthen its competitive standing in the U.S. broadband market.
Some AI tools were used in the crafting of this report.
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The post AT&T completes acquisition of Lumen Mass Markets’ fiber biz appeared first on Total Telecom.