AT&T and BlackRock, through a fund managed by its diversified infrastructure business, have closed their joint venture to form Gigapower, LLC. Gigapower plans to provide a fibre network to internet service providers and other businesses in parts of select metro areas throughout the country using a commercial wholesale open access platform.
With Gigapower, AT&T and BlackRock have come together to give more Americans access to fast, reliable, high-capacity fibre. At a time when broadband connectivity has never been more in demand or more critical to our day-to-day lives, both companies believe now is the time to create the United States’ commercial wholesale open access fibre network to bring high-speed connectivity to more Americans.
As Gigapower’s initial tenant, AT&T will be able to greatly expand the number of customers and communities with access to the fibre internet service, AT&T fibre.
“We believe fibre connectivity changes everything. That’s why we’re already one of the biggest investors in fibre in the United States,” says John Stankey, CEO of AT&T. “The demand for high-speed connectivity is unprecedented, and through this innovative partnership with BlackRock, one of the world’s foremost investors in infrastructure, we’re able to connect even more people and businesses, accelerating our efforts to help close the digital divide.”
“BlackRock is pleased to help bring critical broadband services to communities across America,” says Larry Fink, chairman and CEO, BlackRock. “This investment on behalf of BlackRock’s clients will advance efforts to bridge the digital divide and spur economic growth in the communities where Gigapower operates.”
Gigapower will enable AT&T to expand its fibre service reach beyond its traditional service areas in order to deliver broadband access technologies to more communities across the country. BlackRock brings skill, capital and a commitment to invest in future-proof access technology led by operating teams.
New fibre cities and big plans
In addition to Las Vegas, Gigapower now expects to expand beyond its previously announced fibre deployment in Mesa, to the Chandler and Gilbert areas of Arizona. Gigapower also plans to build fibre in parts of Northeastern Pennsylvania (including Wilkes-Barre and Scranton) as well as parts of Alabama and Florida that are outside AT&T’s current service areas.
“Recently our first wholesale customer, AT&T, activated end-user customers on the Gigapower fibre network in Mesa, and that is just the beginning,” says Bill Hogg, CEO of Gigapower. “We have big plans to deploy multi-gig fibre to many more cities across our country. Our partnerships with communities like Las Vegas and others are essential to building our fibre network and creating a commercial wholesale open access platform that will benefit consumers and businesses across the U.S.”
From metro areas to underserved rural areas, all communities require digital infrastructure to support their economies. With nearly 650,000 residents and more than 42 million annual visitors, Las Vegas is a great example of such a community. Fibre delivers the fast symmetrical speeds and high bandwidth needed to keep residents and visitors connected to the people, events, and businesses that matter most to them.
“Connecting Las Vegas is more important than ever. From families, students, workers, consumers, and small and large businesses, access to the latest broadband technology will elevate our community and economy, paving the way to a strong future,” says Carolyn G. Goodman, mayor of Las Vegas. “Additional and continuing broadband investment will ensure that Las Vegas remains at the forefront of the digital economy and is a great place to live, work, and visit.”
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