Brightspeed today outlined its planned fiber network build for the state of Wisconsin. By the end of 2023, Brightspeed will complete the first phase of construction and deliver over 70,000 new fiber passings across fifteen counties in the state. In subsequent years of its network initiative, the company plans to add 80,000 fiber passings for a total of over 150,000 new fiber-enabled locations in its Wisconsin operating territory.
The Wisconsin fiber build is part of Brightspeed’s comprehensive plan 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, including in many 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 all necessary state-required regulatory approvals in the 20 states in its operating footprint. The parties expect to obtain final FCC approval in the third quarter, and to close the transaction in early fourth quarter.