Company Outlines Fast Start to Execute
$2 Billion Network Transformation
CHARLOTTE, N.C., May 25, 2022
/PRNewswire/ -- Brightspeed today announced that it plans to
achieve 1 million new fiber passings across its multi-state
territory, spanning mostly rural and suburban regions of the U.S.,
by the end of 2023.
Brightspeed previously announced plans to invest more than
$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
locations where fiber and advanced technology have not historically
been deployed. The company will initially be comprised of the
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:
"We are working to secure final regulatory approvals in the
third quarter of this year," said Bob
Mudge, Chief Executive Officer of Brightspeed. "We have
already begun design and construction preparations necessary to hit
the ground running on day one. We will be well-equipped to
quickly deliver on our mission to bring ultra-fast, reliable
Internet and Wi-Fi to more homes and businesses."
Brightspeed's unique next-generation FTTP architecture is
designed to help the company accelerate deployment and market
availability. Brightspeed's planned XGSPON-based network will be
capable of delivering download and upload speeds in excess of 1Gbps
and service reliability vital to helping today's households and
businesses thrive in the digital economy.
Brightspeed recently announced that its first deployment is
underway in its home state of North
Carolina, which will be the largest single-state market in
the company's operating territory. For the deployment, Brightspeed
is using the latest technology innovations from a select group of
industry partners including Corning Incorporated (NYSE: GLW) and
Calix Incorporated (NYSE: CALX).
"We are confident we will have our first office application
ready for testing in just a few weeks," said Chris Creager, Chief Administration Officer of
Brightspeed. "The Brightspeed team – with the support of our
outstanding supply chain partners – has been working non-stop to
ensure that we have the necessary materials, equipment, and
statements of work in place to enable this ambitious build."
The first application is designed to serve as the blueprint for
the company's fiber deployments throughout its entire footprint as
it prepares for day one operations. After the close of the
transaction between the Apollo funds and Lumen, Brightspeed will
begin to sign customers onto its network.
Further information regarding Brightspeed's state-specific
network build plans will be forthcoming.
For more information about Brightspeed, please visit the
company's website, www.brightspeed.com.
Headquartered in Charlotte, N.C. and expected to have assets
and associated operations in 20 states, Brightspeed will provide
broadband and telecommunications services through a network
platform capable of serving more than 6 million homes and
businesses. The company aims to bridge the digital divide by
deploying a state-of-the-art fiber network and a customer
experience that makes staying connected simple and seamless. For
more information about Brightspeed, please visit the company's
Joele Frank, Wilkinson Brimmer