Verizon snaps up Frontier in $20B fiber power play

Verizon is buying Frontier Communications for $20 billion in an all-cash deal that the Tier 1 carrier says will bolster its fiber network across 31 states and Washington DC, as the industry undergoes yet another round of telecommunications consolidation.

The deal aims to bring together Frontier's pure-play fiber business and Verizon's fiber and wireless networks to expand the telecom giant's footprint across the market.

The merger news is perhaps not too surprising since the two telcos have had a business relationship dating back to 2015 when Frontier announced to take over Verizon's landline phone, TV, and ISP operations in California, Texas, and Florida.

Once the deal closes, Verizon will inherit about 2.2 million fiber customers from Frontier, extending its reach to 25 million homes and businesses through its expanded fiber network, according to the two companies.

"The acquisition of Frontier is a strategic fit," stated Verizon chairman and CEO Hans Vestberg. "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."

These kinds of industry mergers have become common over the last few years, resulting in fewer service choices for business and consumer customers. For users, these consolidations often raise concerns.

• FTC says Frontier lied about its internet speeds amid $8.5m settlement
• Frontier rings in Verizon takeover by borking its network
• Frontier sued by FTC, six states for allegedly over-promising, under-delivering broadband
• Miles of optical fiber crafted aboard ISS marks manufacturing first

Interestingly, the acquisition announcement comes just six months after Frontier was hit in March by a cyberattack that resulted in the exposure of personal data for some 750,000 of its customers. Cybercriminals at RansomHub took responsibility for the attack.

Under the deal, Frontier's 2.2 million fiber subscribers will join Verizon's 7.4 million Fios connections, with plans to build out another 2.8 million fiber connections for the network by the end of 2026, according to the telecom juggernaut.

Neither Verizon nor Frontier responded to inquiries from The Register by press time seeking more details about the acquisition. We will update this story when we hear back.®