T-Mobile forms two joint ventures to acquire GoNetspeed, Greenlight Networks, and i3 Broadband for fiber expansion

T-Mobile announced two 50-50 joint ventures to acquire and combine fiber operators GoNetspeed and Greenlight Networks with Oak Hill Capital, and separately to acquire i3 Broadband with Wren House. The carrier will invest $2 billion for a 50% stake in the Oak Hill Capital joint venture and $700 million for its stake in the Wren House joint venture, totaling $2.7 billion in committed capital. The transactions aim to expand T-Mobile's fiber footprint to over one million additional homes nationwide, with GoNetspeed and Greenlight Networks expected to pass 1.3 million households by end of 2026 and i3 Broadband targeting 500,000 households in Missouri, Illinois, and Rhode Island by the same timeline. The deals are structured to close in the first half of 2027 for the Oak Hill Capital JV and the second half of 2026 for the Wren House JV, aligning with T-Mobile's goal to reach 12-15 million fiber-connected premises by 2030. André Almeida, T-Mobile's chief broadband officer, emphasized the partnerships will scale fiber access by combining leading operators with T-Mobile's brand and customer experience. Scott Baker of Oak Hill Capital highlighted the potential to accelerate fiber-to-the-premises construction and deliver high-speed connectivity to underserved communities across the Northeastern and mid-Atlantic US.

Counterparts (5)

Partner

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GoNetspeed

company · 1 deals

Oak Hill Capital

company · 2 deals

Oak Hill Capital is a New York-based private equity firm with over $20 billion of committed capital, focused on control investments in North American middle-market companies across the Services, Industrials, Media & Communications, and Consumer sectors.

Wren House

company · 1 deals

T-Mobile

company · 1 deals

T-Mobile US is a leading wireless network operator providing mobile voice, messaging, and data services across the United States. In the infrastructure sector, it acts as a significant developer and operator of digital telecommunications infrastructure, including extensive 5G networks and data centers, and is a major off-taker of renewable energy to power its vast operations.

Greenlight Networks

company · 1 deals

Rochester, NY-based fiber internet provider building and operating 100% fiber-optic networks across 8 markets in New York, Pennsylvania, and Maryland, serving over 225,000 homes and nearly 10,000 small businesses.