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Brightspeed announces initial fiber build markets for TexasIndustry Announcements, , 6/15/2022
CHARLOTTE, N.C., – Brightspeed today announced details for its planned fiber optics network build in the state of Texas. By the end of 2023, the company will deliver over 120,000 new fiber passings in the first phase of deployment in the state. Brightspeed plans to add 160,000 more passings in its Texas operating territory – for a total of up to 280,000 – in subsequent years of the network build. Brightspeed will initially be comprised of the incumbent local exchange carrier (ILEC) assets and associated operations of Lumen Technologies, which are the subject of a pending acquisition by Apollo-managed funds. The parties expect to obtain regulatory approvals in the third quarter, and to close the transaction in early fourth quarter of this year. The Texas build is part of Brightspeed's comprehensive plan to invest at least $2 billion in its multi-state 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. Brightspeed's 2022-2023 build plan will bring faster, more reliable internet and Wi-Fi services to over 120,000 residential and business locations in portions of the Atascocita, Killeen, Kings Crossing, and Port Aransas communities. These new fiber-enabled addresses are incremental to 26,000 existing fiber passings that Brightspeed will assume upon the close of the transaction between the Apollo funds and Lumen. After the close of the transaction between the Apollo funds and Lumen, Brightspeed will begin to sign customers onto its network. Brightspeed will be pioneering technology innovations designed to help the company accelerate network deployment and market availability of XGSPON-based internet services with symmetrical speeds that exceed 1Gbps. Brightspeed plans to announce its other state-specific build information over the coming weeks. Read the full press release here. |
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