Brookfield Strikes Deal to Buy Internet Provider Hotwire

Brookfield Infrastructure Partners has struck a deal for internet-service provider Hotwire Communications, making a multibillion-dollar bet on the growing industry for next-generation broadband infrastructure. The deal is expected to value Hotwire at around $7 billion, including debt. An announcement is expected soon. Hotwire is a closely held internet service provider that operates in commercial settings and residential communities, according to its website. Its network runs across Florida, Georgia, Texas, Arizona, Nevada, South Carolina, North Carolina, Pennsylvania and California. Brookfield is set to take over the business from Blackstone, which invested about $1 billion in 2021 through its Infrastructure Partners and Tactical Opportunities funds.