The deal, announced last April, sees T-Mobile inject $950 million into the joint venture, with a further $500 million planned between 2027 and 2028 to support further expansion.
“T-Mobile is already the fastest-growing broadband provider in America, and expanding into fibre helps us take the next big step in delivering what customers truly want – faster, more reliable internet that simply works,” said Mike Katz, president of marketing, strategy and products at T-Mobile.
Prior to the purchase, Lumos operated a 7,500-mile fibre network that provided high-speed connectivity, including home Wi-Fi, voice and streaming services to 475,000 homes across the Mid-Atlantic region.
Lumos will now pivot to becoming a wholesale fibre provider, with T-Mobile as its anchor tenant. The telco giant, meanwhile, will take ownership of the customer experience side of the business.
Brian Stading, CEO of Lumos, said: “Partnering with EQT and T-Mobile, we’re ready to scale faster, deliver cutting-edge fibre technology to more people, and change even more lives.”
“This joint venture represents a powerful combination of EQT’s digital infrastructure expertise, Lumos’s proven fibre deployment capabilities, and T-Mobile’s customer-first approach and national reach,” said Nirav Shah, a partner within EQT’s infrastructure advisory team.
“Together, we are well-positioned to accelerate access to high-quality fibre broadband to millions of underserved Americans and look forward to executing on our plans to deliver the critical connectivity that empowers communities across the country.”
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T-Mobile to acquire FTTH platform, Lumos
