Verizon Communications Inc.
Verizon to Acquire Frontier in $20 Billion Deal
Summary
Verizon Communications Inc. has entered into a definitive agreement to acquire Frontier Communications Parent, Inc. in an all-cash transaction valued at $20 billion. The deal, expected to close in approximately 18 months, aims to significantly expand Verizon's fiber network footprint, enhance its premium broadband and mobility services, and achieve at least $500 million in annual cost synergies. The transaction is expected to be accretive to Verizon's revenue and Adjusted EBITDA growth rates upon closing.
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About Verizon Communications Inc.
Verizon Communications Inc. is a leading telecommunications company that provides a wide array of communication services and products in the United States and globally. As a major player in the telecommunication industry, Verizon's primary function is to deliver wireless communications, broadband, and fiber optic services, aiming to keep people connected across various platforms. The company’s notable features include its extensive 5G and fiber optic network infrastructure, which significantly impacts sectors like technology, media, and consumer communications. It offers services to individual consumers, businesses, and government entities through various channels, including its retail stores and online platforms. Headquartered in New York City, Verizon is crucial in driving innovation in communication technologies and maintaining robust network solutions to meet growing data demands. Its influence extends beyond traditional telecommunication, also impacting emerging fields such as Internet of Things (IoT) and smart cities, helping to shape the future of connectivity.
Official SEC Documents
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