Verizon Communications Inc. has completed its $225 million purchase of fiber-optic network assets serving the Chicago market from WideOpenWest, Inc.
The transaction is part of Verizon’s effort to scale and accelerate deployment of next-generation broadband services.
For Verizon, the transaction secures fiber to more than 500 macro-cell wireless sites and more than 500 small-cell wireless sites in the Chicago area.
The high-capacity fiber network is designed to support multi-use services and already connects Verizon Wireless macro towers and small cells, reducing future leasing costs.
“The addition of these fiber assets is an important part of our strategy to reinforce our current network capabilities and prepare for the future. The completion of this acquisition will help expedite our network densification with fiber and small cells, enhancing our industry-leading 4G LTE network and laying the groundwork for 5G,” said Nicola Palmer, Chief Engineer and Head of Wireless Networks, Verizon.
It may be recalled that earlier in the year – Verizon Communications Inc. has announced a three-year minimum purchase agreement with Corning Incorporated to provide fiber optic cable and associated hardware for Verizon to ensure critical coverage and capacity for its nationwide wireless broadband network.
This agreement calls for Corning to provide and Verizon to purchase up to 20 million kilometers (12.4 million miles) of optical fiber each year from 2018 through 2020, with a minimum purchase commitment of $1.05 billion.
Verizon has been reinventing its network architecture around a next-generation fiber platform that will support all of the company’s businesses.
This architecture is designed to improve Verizon’s 4G LTE coverage, speed the deployment of 5G, and deliver high-speed broadband to homes and businesses of all sizes.