GFiber and Stonepeak's Astound to combine, creating an independent broadband provider

The new company will be majority owned by Stonepeak, an investment firm specializing in infrastructure and real assets. Alphabet will remain a significant minority shareholder, reflecting its confidence in GFiber’s growth opportunity and leadership. The combined business will be led by the existing GFiber executive team, utilizing their expertise in high-speed fiber innovation to manage the combined network footprint. The combination of GFiber’s high-growth metropolitan networks with Astound’s established infrastructure, team and capabilities creates a highly complementary, national network platform. This agreement advances GFiber’s mission of redefining internet connectivity and represents a major step toward its goal of operational and financial independence.