T-Mobile announced today that it has acquired Lumos, a “fiber-to-the-home provider” from EQT investment group.
Lumos currently has a 7,500 mile fiber network that provides service to 475,000 homes in the Mid-Atlantic region. With the acquisition, current Lumos customers will become T-Mobile Fiber customers. T-Mobile says it invested $950 million and plans to invest an additional $500 million to support expansion, with a goal of reaching 3.5 million homes by the end of 2028.
T-Mobile plans come with unlimited data plus Wi-Fi equipment and installation included. New and existing customers also have “Magenta Status,” which offers discounts on food, gas, entertainment and top brands, along with weekly freebies through the T-Life app. Some perks have included free Slurpees at 7-Eleven, discounts on gas at Shell, and discounted movie tickets.
“T-Mobile is already the fastest-growing broadband provider in America, and expanding into fiber helps us take the next big step in delivering what customers truly want – faster, more reliable internet that simply works,” said Mike Katz, T-Mobile President of Marketing, Strategy and Products. “People deserve better when it comes to their home internet: fewer disruptions, more value, and support that actually feels supportive. We’re excited to welcome Lumos customers to the T-Mobile family and bring them the Un-carrier experience – built around their needs, fueled by innovation, and focused on making life easier.”
“We’re excited to begin this joint venture and even more energized about what’s ahead,” said Brian Stading, CEO of Lumos. “Partnering with EQT and T-Mobile, we’re ready to scale faster, deliver cutting-edge fiber technology to more people, and change even more lives. This is about more than just internet – it’s about building the infrastructure of the future and creating lasting opportunity, connection, and impact for communities.”
T-Mobile is the fifth largest internet service provider in the U.S. By the end of 2024, T-Mobile Fiber was available in 32 markets. By the end of 2030, the company expects to reach 12 to 15 million households.