Brightspeed Announces Initial Fiber Build Markets for Indiana

Rhea-AI Summary

Brightspeed has unveiled plans to expand its fiber optic network in Indiana, targeting over 50,000 potential customers by the end of 2023. This initial phase includes 20 counties and a commitment of at least $2 billion to improve broadband access across rural areas, ultimately reaching over 120,000 locations. Brightspeed aims to enhance internet speed and reliability through a next-generation FTTP architecture that offers speeds exceeding 1 Gbps. The company has secured all necessary regulatory approvals and expects to finalize its acquisition by APO in early Q4 2022.

Positive

• Investment of at least $2 billion in fiber optics infrastructure.
• Plans to reach a total of more than 120,000 fiber-enabled locations in Indiana.
• The fiber network will provide speeds exceeding 1 Gbps, enhancing internet reliability.

Negative

• None.

Next-Generation Fiber Network to Reach Over 50,000 Potential Customers in Indiana by End of 2023

CHARLOTTE, N.C., Aug. 30, 2022 /PRNewswire/ -- Brightspeed today announced details for its planned fiber optics network build in the state of Indiana. By the end of 2023, the company will deliver over 50,000 new fiber passings in portions of 20 counties during the first phase of construction in the state. Brightspeed plans an additional 70,000 fiber passings in subsequent years of its build plan, for a total of more than 120,000 fiber-enabled locations across its Indiana footprint.

The Indiana fiber build is the latest in a series of announcements that Brightspeed has made over the last several months outlining the company's fiber network plans for its multistate territory. In total, Brightspeed intends to invest at least $2 billion in its fiber optics transformation, which is expected to reach up to 3 million homes and businesses over the next five years in mainly rural and suburban settings where fiber and advanced technology have not historically been deployed.

Brightspeed will initially be comprised of 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 company has secured FCC approval and all necessary regulatory approvals in the 20 states in its operating footprint, and plans to close the transaction early in the fourth quarter.

"We are excited to share our fiber network upgrade plans for Indiana and are thrilled that we will be reaching so many communities during our initial build phase," said Tom Maguire, chief operating officer of Brightspeed. "Our Brightspeed team has been busy completing the design and construction preparations necessary to hit the ground running on day one of operations. We cannot wait to start delivering our ultra-fast, reliable internet connections, with an awesome, best-in-class customer experience that the people and businesses of Indiana need and deserve."

Brightspeed's 2022-23 build plan for Indiana will bring faster, more reliable internet and Wi-Fi to over 50,000 residential and business locations in markets within Adams, Carroll, Dearborn, Elkhart, Henry, Jasper, Johnson, Kosciusko, LaGrange, Madison, Marshall, Newton, Ohio, Pulaski, Randolph, St. Joseph, Starke, Switzerland, White, and Whitley counties.

"Beyond our own extensive network build in Indiana, we are looking forward to working with key state and local stakeholders, including the Office of Community and Rural Affairs (OCRA), to pursue opportunities to further expand fiber-based broadband availability in Indiana," added Maguire.

"There are several rural counties in Indiana that are poised for growth in the next few years, but it comes down to quality of life in these rural areas," said Indiana Lt. Governor Suzanne Crouch. "Access to quality education and healthcare are keys to this growth, but neither can happen without affordable and reliable connectivity. Brightspeed's investment in Indiana in the next two years will bring reliable connectivity to an estimated 50,000 businesses and households. This is what Hoosiers need!"

Brightspeed's unique next-generation FTTP architecture, supported by a portfolio of blue-chip technology partners, is engineered to help the company accelerate deployment and market availability. The company's planned XGS-PON network will be capable of delivering download and upload speeds in excess of 1Gbps, with service reliability vital to helping today's households and businesses connect, grow, and thrive.

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

View original content:https://www.prnewswire.com/news-releases/brightspeed-announces-initial-fiber-build-markets-for-indiana-301614218.html

SOURCE Brightspeed

FAQ

What are Brightspeed's plans for fiber optics in Indiana?

Brightspeed plans to build a fiber optics network reaching over 50,000 potential customers in Indiana by the end of 2023.

How much is Brightspeed investing in its Indiana fiber build?

Brightspeed is investing at least $2 billion in its fiber optics transformation in Indiana.

When is the expected completion date for Brightspeed's acquisition by Apollo?

The acquisition by Apollo-managed funds is expected to close early in the fourth quarter of 2022.

What benefits will the fiber build bring to Indiana residents?

The fiber build will provide faster, more reliable internet access to over 50,000 residential and business locations in Indiana.