(Credit: NurPhoto/Contributor via Getty Images)
Verizon is buying fiber-optic internet and communications provider Frontier in a deal worth $20 billion, the US telecoms giant announced Thursday. The acquisition will mean that Verizon customers will get access to Frontier's fiber network, including those with Verizon's Fios offering. It also means Frontier customers will be integrated into the Verizon network.
"The acquisition of Frontier is a strategic fit. It will build on Verizon’s two decades of leadership at the forefront of fiber and is an opportunity to become more competitive in more markets throughout the United States, enhancing our ability to deliver premium offerings to millions more customers across a combined fiber network," said Verizon Chairman and CEO Hans Vestberg in a statement.
Frontier has an estimated 2.2 million fiber subscribers, while Verizon Fios has about 7.4 million connections, according to the announcement. Frontier's fiber internet is currently available in select areas within 26 states, including parts of Arizona, California, New York, Texas, Florida, Michigan, and Utah, to name a few. Frontier offers services in parts of the southwest and southeast US, as well as the Great Lakes region, while Verizon's Fios offering is mainly available in larger metro areas in the northeast US, with connectivity in New York, New Jersey, Massachusetts, Maryland, Pennsylvania, and other nearby states.
This means Verizon's Fios can expand to the south and southwest, as well as other areas Frontier offers its fiber service. When combined, Verizon and Frontier will be able to offer fiber internet to customers in 31 states.
Optical fiber cables are bundles of glass or plastic strands that allow more network activity and traffic compared to other methods. Fiber internet can also deliver very fast download and upload speeds, making it an ideal option for gamers or internet power-users who want lightning-fast internet. While AT&T recently beat out Verizon in a fiber customer satisfaction survey, scoring 80 points out of a possible 100, Verizon Fios came in second as the best fiber option, getting a score of 77 out of 100.
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