Verizon is making a major move in the fiber broadband sector with a $20 billion cash deal to acquire Frontier Communications. This acquisition will significantly boost Verizon’s fiber internet footprint, merging Frontier’s 2.2 million fiber customers across 25 states with Verizon’s existing 7.4 million connections in nine states and Washington, D.C.
The merger will enhance Verizon’s fiber network, which currently focuses on the northeastern U.S., spanning from Virginia to Massachusetts. Frontier’s infrastructure complements this by adding coverage in Connecticut, New York, Pennsylvania, Texas, California, West Virginia, Illinois, Ohio, and other regions where Verizon does not yet have a fiber presence. Verizon also plans to expand its fiber network by 2.8 million locations by the end of 2026.
Verizon Chairman and CEO Hans Vestberg emphasized the importance of this acquisition: “Connectivity is essential in nearly every part of our lives and work, and no one delivers better than Verizon. The acquisition of Frontier is a strategic fit that will enhance our competitive edge and expand our ability to offer premium services to millions more customers across a combined fiber network.”
Frontier’s President and CEO Nick Jeffery highlighted the significance of the deal: “This acquisition recognizes our progress in building a top-tier fiber network and underscores the future of fiber. It delivers substantial value to Frontier’s shareholders and creates new opportunities for our employees, while broadening access to high-speed broadband for more Americans.”
