Verizon Eyes Urban Growth With Starry Wireless Acquisition
Synopsis
By acquiring Starry, Verizon intends to boost its fixed wireless access capabilities by using Starry’s millimeter wave technology and established customer base.
Verizon Communications Inc.(VZ) announced on Wednesday that it has reached a definitive deal to acquire fixed wireless provider Starry, in a move to expand high-speed broadband access across urban markets.
By acquiring Starry, Verizon intends to boost its fixed wireless access (FWA) capabilities by using Starry’s millimeter wave technology and established customer base.
Starry’s network currently reaches close to 100,000 customers living in multi-dwelling units (MDUs) across five major cities – Boston, New York City, Los Angeles, Denver, and Washington, D.C.
Verizon Communications stock inched 0.5% higher in Wednesday’s premarket. On Stocktwits, retail sentiment around the stock changed to ‘bullish’ from ‘extremely bullish’ the previous day amid ‘extremely high’ message volume levels.
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