Verizon completed its $1.8 billion purchase of XO Communications’ fiber-optic network business. The deal was first announced in February 2016. Network integration work begins immediately.
“This transaction with XO will bring significant benefits in how we deliver superior services to our customers,” said John Stratton, Verizon executive vice president and president of Operations. “XO’s fiber network will add ever greater capacity and reach to Verizon’s networks, a combination that will lead to enhanced capabilities, better services and faster rollout of next generation communication networks.”
Separately, Verizon will simultaneously lease available XO wireless spectrum, with an option to buy XO’s entity that holds its spectrum by year-end 2018.
