Alphabet’s GFiber Merges With Astound to Fund Expansion as Independent Provider

Alphabet’s GFiber is merging with Astound Broadband to form a new, independent fiber internet provider.

Investment firm Stonepeak, the owner of Astound, will become the majority shareholder in the venture. Alphabet will retain a significant minority stake in the combined entity.

The transaction provides GFiber with external capital to accelerate network expansion. This move facilitates GFiber’s goal of achieving operational and financial independence from Alphabet.

GFiber CEO Dinni Jain will lead the combined executive team. The deal is expected to close in the fourth quarter of the year, pending regulatory approvals.