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Verizon Picks Up XO's Fiber Network to Beef Up Backhaul

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Feb 22, 2016, 11:30 AM by Eric M. Zeman

Verizon Communications today said it has agreed to acquire XO Communications' fiber business for $1.8 billion. The deal, says Verizon, will help it serve its enterprise and wholesale customers, as well as allow Verizon to further densify its cellular network. Verizon expects to realize some financial benefits from the deal, and will also lease some of XO's wireless spectrum with an option to buy it come 2018. Verizon expects to close the acquisition of XO's fiber business during the first half of 2017, pending regulatory review.

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