Earlier this month, T-Mobile announced that they have entered a joint venture with EQT’s Infrastructure VI fund (EQT). This is for the acquisition of Lumos, a fiber-to-the-home platform. 

Through this venture, the Un-carrier and EQT will acquire the scalable fiber network build of Lumos so they can deliver the best-in-class high-speed fiber internet connectivity to customers throughout the country. Once the deal comes to a close, Lumos will be able to transition to a wholesale model and attract new customers. 

T-Mobile’s CEO, Mike Sievert, said this about the acquisition:f

“As the demand for reliable, low-latency connectivity rapidly increases, this deal is a scalable strategy for T-Mobile to take a significant step forward in expanding on our broadband success and continue shaking up competition in this space to bring even more value and choice to consumers. Together with EQT and Lumos, T-Mobile is building on our position as the fastest growing broadband provider in the country in a value-accretive way that complements our sustained growth leadership in wireless. Customers – homes and businesses – who get the fast, affordable, and reliable internet they need will be the real winners.”

The deal is expected to close later this year or early 2025. You can read more about the deal here.

Source: T-Mobile