Verizon (VZ) Purchases Fiber Network Infrastructure in Chicago Market
Verizon Communications, Inc. (VZ) is a worldwide leader in delivering communications and technology solutions that improve the lives of its customers.
Verizon completed the purchase of fiber-optic network assets that serve the Chicago market from WideOpenWest, Inc. for $225 million.
“The addition of these fiber assets is an important part of our strategy to reinforce our current network capabilities and prepare for the future. The completion of this acquisition will help expedite our network densification with fiber and small cells, enhancing our industry-leading 4G LTE network and laying the groundwork for 5G,” -Nicola Palmer, Chief Engineer and Head of Wireless Networks, Verizon
The purchase secures fiber to over 500 macro-cell wireless sites and over 500 small-call wireless sites for Verizon in the Chicago area. This network is designed to support multi-use services and reduce future leasing costs.