T-Mobile has officially finalized its acquisition of Metronet, a leading fiber internet provider, marking a significant step in expanding its fiber footprint across the United States. The deal, completed through a joint venture with global investment firm KKR, positions T-Mobile as a major player in the fiber-to-the-home (FTTH) market, complementing its industry-leading 5G wireless and fixed wireless broadband services. This strategic move enhances T-Mobile’s ability to deliver high-speed, reliable internet to millions of households, particularly in underserved communities.
The acquisition, first announced in July 2024, sees T-Mobile investing approximately $4.9 billion for a 50% equity stake in the joint venture and full ownership of Metronet’s residential fiber retail operations and customer base. Metronet, headquartered in Evansville, Indiana, currently serves over 2 million homes and businesses across 17 states, with plans to reach 6.5 million homes by 2030. Following the transaction’s close, Metronet will transition to a wholesale services provider, focusing on network engineering, design, deployment, and customer installation, while T-Mobile takes charge of residential customer acquisition and support, leveraging its renowned customer service model.
“Metronet has built the industry’s most efficient fiber‑construction engine, bringing world‑class digital infrastructure to underserved communities at an unprecedented pace,” said Dave Heimbach, Chief Executive Officer of Metronet. “With KKR and T‑Mobile, we have best‑in‑class strategic partners committed to taking our growth to the next level.”
This acquisition follows T-Mobile’s earlier 2024 joint venture with EQT to acquire Lumos, another regional fiber provider, signaling T-Mobile’s aggressive push into the fiber market. Combined, these deals are expected to enable T-Mobile to reach 12 to 15 million homes with fiber internet by 2030, positioning it to compete with industry giants like AT&T and Verizon.
Metronet customers received an email from the company confirming the transition and outlining what they can expect moving forward. The email, sent by the Metronet + T-Mobile Fiber Team, assures customers of continued high-quality service with added T-Mobile benefits.
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