CHARLOTTE, N.C. – Brightspeed today announced that it plans to achieve 1 million new fiber passings across its multi-state territory, spanning mostly rural and suburban regions of the U.S., by the end of 2023.
Brightspeed previously announced plans to invest more than $2 billion in its fiber optics transformation, which is expected to reach up to 3 million homes and businesses over the next five years, including in many locations where fiber and advanced technology have not historically been deployed. The company will initially be comprised of the incumbent local exchange carrier (ILEC) assets and associated operations of Lumen Technologies (NYSE: LUMN), which are the subject of a pending acquisition by Apollo-managed funds (NYSE: APO).
Brightspeed's unique next-generation FTTP architecture is designed to help the company accelerate deployment and market availability. Brightspeed's planned XGSPON-based network will be capable of delivering download and upload speeds in excess of 1Gbps and service reliability vital to helping today's households and businesses thrive in the digital economy.
Brightspeed recently announced that its first deployment is underway in its home state of North Carolina, which will be the largest single-state market in the company's operating territory. For the deployment, Brightspeed is using the latest technology innovations from a select group of industry partners including Corning Incorporated (NYSE: GLW) and Calix Incorporated (NYSE: CALX).
The first application is designed to serve as the blueprint for the company's fiber deployments throughout its entire footprint as it prepares for day one operations. After the close of the transaction between the Apollo funds and Lumen, Brightspeed will begin to sign customers onto its network.
Read the full press release here.