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Executives say the move is intended to accelerate GFiber’s expansion and push forward its technology and service model on a national scale.
Edited by Brad Randall, Broadband Communities
GFiber, the unit of Alphabet formerly known as Google Fiber, announced today that it will merge with Astound Broadband in a deal that will create a new, independent fiber internet provider.
The combined company will be majority owned by Stonepeak, an infrastructure investment firm, while Alphabet will retain a significant minority stake.
Additionally, the management team of the current GFiber business will continue to run the combined operation, the companies announced, with the idea that GFiber’s experience in high-speed metropolitan networks will pair with Astound’s more established infrastructure and customer base.
Alphabet’s Ruth Porat, president and chief investment officer, characterized the deal as a way to extend GFiber’s reach.
“GFiber will now have the opportunity to provide better internet access to more communities across the country as they combine with Stonepeak’s Astound business, while continuing to provide their award-winning customer experience,” Porat said.
“The next step”
GFiber CEO Dinni Jain also called the partnership “the next step in our decade-long mission to redefine what customers can expect from their internet provider,” suggesting the company sees the transaction as fuel for faster market growth.
Stonepeak said it plans to back the combined company’s expansion.
“This partnership will be transformational for the businesses,” said Andrew Thomas, a senior managing director at Stonepeak, pointing to the firms’ “complementary networks and extraordinary teams” and signaling an intent to invest in next-generation networks and broader connectivity.
Astound Broadband in the news
Astound Business Solutions launches East Coast fiber route (Jan. 2026)
Astound to start work soon in Washington state’s Nisqually region (Feb. 2026)
The private equity firm will hold majority ownership, giving it the control of strategic direction while Alphabet remains a sizable investor.
The companies said the deal must clear customary closing conditions and regulatory approvals and is expected to close in the fourth quarter of this year. No financial terms were disclosed in the announcement.
Some AI tools assisted in the crafting of this report.
