Abu Dhabi’s Mubadala invests $500 million in US broadband firm Brightspeed

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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.

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Abu Dhabi’s Mubadala invests $500 million in US broadband firm Brightspeed

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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