Verizon Communications Inc. has entered a definitive agreement to acquire Starry, a prominent provider of fixed wireless broadband services. This move aims to enhance Verizon’s capabilities in delivering high-speed internet to multi-dwelling units (MDUs) and urban areas.
Details of the Acquisition
The acquisition is expected to conclude by the first quarter of 2026, pending regulatory approval. Starry operates in five major markets: Boston, New York, Los Angeles, Denver, and Washington, D.C. The company currently serves nearly 100,000 MDU customers across these cities.
Strategic Benefits
- Verizon plans to double its fixed wireless subscribers to between 8 million and 9 million by 2028.
- The acquisition will allow Verizon to extend its fixed wireless broadband reach to 90 million households within the same timeframe.
- Starry’s millimeter wave technology and market presence will enhance Verizon’s delivery methods.
Joe Russo, Executive Vice President and President of Global Networks and Technology at Verizon, emphasized the acquisition’s significance. “Starry has demonstrated an efficient approach to delivering high-speed internet in complex environments,” he stated. By leveraging Starry’s technology, Verizon aims to offer affordable broadband options to millions of new customers.
Market Impact
Verizon’s substantial fiber backbone and extensive holdings of mmWave spectrum position the company uniquely to meet the growing demand for ultra-fast internet in dense urban settings. The integration of Starry’s innovative architecture is expected to provide cost-effective solutions for deploying fixed wireless broadband.
Starry’s Performance Metrics
Starry boasts a Net Promoter Score (NPS) that is nearly double the industry average, indicating high customer satisfaction. This metric points to strong brand loyalty and potential for further growth within the Verizon ecosystem.
In conclusion, Verizon’s acquisition of Starry represents a strategic step in Broadband expansion, poised to bring high-speed connectivity to a broader audience while enhancing customer satisfaction through advanced technological integration. For updates on this development, visit El-Balad.
