GFiber and Stonepeak’s Astound to combine

GFiber (formerly Google Fiber) and Stonepeak have entered an agreement to combine GFiber with Astound Broadband, creating a leading independent fiber 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. GFiber will have the external capital and strategic focus needed to accelerate its next phase of growth, expanding its customer-first approach and pioneering fiber technology across the country. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in Q4 of 2026.