Google Fiber will be sold to private equity firm and merge with cable company
7 hours ago
- #merger
- #fiber-optics
- #telecommunications
- Google Fiber (GFiber) is being sold to private equity firm Stonepeak and will merge with Astound Broadband.
- Alphabet will retain a minority stake in GFiber post-merger.
- The combined entity aims to become a leading independent fiber provider.
- The deal is expected to close in Q4 2024, pending regulatory approvals.
- The merger will leverage GFiber's high-growth networks and Astound's established infrastructure.
- GFiber's executive team will lead the combined business.
- Alphabet's minority stake reflects confidence in GFiber's growth potential.