Mubadala Investment Corporation of Abu Dhabi has invested $500 million in Brightspeed, a US broadband company. Mubadala will become a minority shareholder in Brightspeed, joining investment funds controlled by Apollo Global Management affiliates.
Brightspeed, based in Charlotte, North Carolina, is the fifth-largest incumbent local exchange carrier (ILEC) in the United States. The corporation can service over 6.5 million homes and businesses in rural and suburban towns in the Midwest, Southeast, Pennsylvania, and New Jersey.
Brightspeed officially commenced operations in October 2022 and began the construction of its cutting-edge fibre optics network.In March 2023, the company began servicing its first fibre customers, and its planned fibre optics transformation is scheduled to reach up to 3 million homes and companies over the next five years.