The deal is expected to close in 18 months, if it gets past regulatory approval. | Image: Cath Virginia / The Verge
Verizon has entered an agreement to acquire the fiber internet provider Frontier in an all-cash deal valued at $20 billion. In its press release announcing the transaction, Verizon says the deal will “significantly expand Verizon’s fiber footprint across the nation, accelerating the company’s delivery of premium mobility and broadband services to current and new customers.”
The deal with Frontier may help Verizon regain its old Fios subscribers, after some of its wireline operations — including Fios fiber internet connections — were purchased by Frontier in 2015 for $10.5 billion. Frontier’s existing 2.2 million fiber subscribers in 25 states will now join Verizon’s approximately 7.4 million Fios connections in nine states. Frontier…