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KKR Completes Acquisition of Metronet through Joint Venture, Accelerating Fiber Expansion Across the U.S.

NEW YORK--(BUSINESS WIRE)-- KKR, a leading global investment firm, today announced the completion of the previously announced acquisition of Metronet, one of the largest and fastest-growing independent fiber-to-the-home providers in the United States, through a joint venture with T-Mobile, a leading telecommunications company with the largest 5G network. The transaction brings together Metronet鈥檚 broadband infrastructure, rapidly growing residential and commercial fiber business operations and existing customers, creating a scaled platform to accelerate fiber deployment across underserved markets.

鈥淔iber is the connective tissue of the modern economy鈥攆rom tele鈥慼ealth and remote learning to AI鈥憄owered enterprises,鈥� said Waldemar Szlezak, Partner and Global Head of Digital Infrastructure at KKR. 鈥淔or over 15 years, KKR has been a leader in the fiber space, delivering capital and capabilities to the world鈥檚 most critical networks. By combining Metronet鈥檚 leading build engine with T鈥慚obile鈥檚 national reach, we can accelerate world鈥慶lass connectivity to millions of underserved homes and businesses.鈥�

Metronet is delivering multi-gigabit internet service in more than 300 communities in 19 states, with more communities added each month. More than 2.6 million homes and businesses have access to Metronet fiber, which covers more than 42,000 miles.

The acquisition builds on KKR鈥檚 integrated digital infrastructure franchise. KKR has committed $31 billion of equity into digital infrastructure and over $20 billion into power and renewables. This includes supporting five data鈥慶enter platforms across U.S., APAC, and EMEA with over 155 facilities and 9 GW of pipeline. KKR鈥檚 digital infrastructure portfolio also includes 12 fiber investments across ~30 million homes passed in the U.S., Europe, and Latin America, with ~4 million new homes passed with fiber infrastructure per year, as well as total 130,000+ wireless infrastructure sites across Europe and APAC.

As part of the closing of the transaction, Metronet will now become a wholesale internet services provider, with T-Mobile Fiber as its partner for residential service. T-Mobile Fiber has acquired Metronet鈥檚 residential customers and will have responsibility for residential customer acquisition, support, and the customer experience. Metronet will continue to build new fiber-optic network infrastructure, maintain its existing network, and install service for new customers. Under the joint venture, Metronet has retained its commercial-services business.

鈥淢etronet has built the industry鈥檚 most efficient fiber鈥慶onstruction engine, bringing world鈥慶lass digital infrastructure to underserved communities at an unprecedented pace,鈥� said Dave Heimbach, Chief Executive Officer of Metronet. 鈥淲ith KKR and T鈥慚obile, we have best鈥慽n鈥慶lass strategic partners committed to taking our growth to the next level.鈥�

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR鈥檚 insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR鈥檚 investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at . For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group鈥檚 website at .

About Metronet

Metronet, the nation鈥檚 fastest-growing fiber-to-the-home builder, is now owned by a joint venture of T-Mobile, America鈥檚 5G leader, and KKR, the global investment firm. The company operates its 100% fiber optic networks on a commercial and wholesale basis, with T-Mobile Fiber providing marketing, sales and the customer experience for residential users. In cities across the country, Metronet has been building and operating fiber networks since 2005. Today, more than 2.6 million homes and businesses in more than 300 communities across 19 states have access to Metronet fiber, with new communities added each month. More information on the company can be found at metronet.com.

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Source: Metronet