Advanced FTTP Network to Reach Over 120,000
Potential Customers in Texas by
End of 2023
CHARLOTTE, N.C., June 15,
2022 /PRNewswire/ -- 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 (NYSE: LUMN), which are the subject of a pending
acquisition by Apollo-managed funds (NYSE: APO). 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.
"We believe all customers should have access to the
highest-quality, most user-friendly internet service possible.
Brightspeed's mission is to expand and accelerate the availability
of internet connectivity that will enable our communities to
thrive," said Chris Creager, Chief
Administration Officer of Brightspeed. "We have an incredible team
in place that knows how to execute this critical copper-to-fiber
technology transformation. We are thrilled for the opportunity to
bring our Brightspeed services to the customers in our Texas footprint."
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.
"I am excited to welcome Brightspeed's investment in
Texas," said Texas Comptroller
Glenn Hegar. "My agency was tasked
with creating Texas' first-ever
broadband development office with a goal to expand high-speed
internet access to areas most in need. Brightspeed's commitment to
developing connectivity solutions and expanding fiber
based-internet access in Texas is
an encouraging development towards reaching that goal."
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.
For more information about Brightspeed, visit the company's
website, www.brightspeed.com.
About Brightspeed
Headquartered in Charlotte, N.C. and expected to have assets
and associated operations in 20 states, Brightspeed will provide
broadband and telecommunications services through a network
platform capable of serving more than 6 million homes and
businesses. The company aims to bridge the digital divide by
deploying a state-of-the-art fiber network and a customer
experience that makes staying connected simple and seamless. For
more information about Brightspeed, visit the company's website,
www.brightspeed.com.
Media
Erik Carlson
Joele Frank, Wilkinson Brimmer
Katcher
(212) 355-4449
pr@brightspeed.com
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SOURCE Brightspeed