EQT and T-Mobile have entered into a joint venture with EQT’s Infrastructure VI (EQTI VI) fund to acquire fiber-to-the-home (FTTH) platform Lumos from EQT’s predecessor fund, EQT Infrastructure III. Financial terms were not disclosed.
The joint venture will acquire Lumos’ scalable fiber network build capabilities to deliver best-in-class, high-speed fiber internet connectivity to customers across the United States that don’t have access to fiber. After the transaction closes, Lumos, which currently reaches 320,000 households via 7,500 route miles with fiberoptic internet and home wi-fi service in the Mid-Atlantic, will transition to a wholesale model with T-Mobile.
The joint venture will focus on market identification and selection, network engineering and design, network deployment, and customer installation.
T-Mobile is expected to invest approximately $950 million to acquire a 50 percent equity stake in Lumos and all existing fiber customers. The fund
