Google to combine GFiber with Astound Broadband to form new independent fibre provider

Google has announced that it will combine GFiber with Astound Broadband in a deal backed by infrastructure investment firm Stonepeak. The tech giant, which is owned by Alphabet, is taking this action to establish a separate fiber internet provider with a wider national network reach. As per the agreement, Alphabet will remain a significant minority shareholder in the combined company, while Stonepeak will hold a majority stake. According to the companies, the deal is meant to help expand fiber broadband services and supply more funding to accelerate network expansion.

Google announced in a blog post that the existing GFiber executive team will continue to lead the combined business.