GFiber Is Being Asborbed Into Astound Broadband

Was GFiber just sold off to a new owner? 

Google’s parent Alphabet has revealed that GFiber is being merged with the internet service provider Astound Broadband, which already serves over a million customers in states including California, Illinois and Washington state. 

GFiber, formerly Google Fiber, revealed the news in a blog post, but no financial terms were disclosed. Alphabet is only holding a “significant minority” stake in the new, unnamed venture, suggesting it sold a partial stake in GFiber. Meanwhile, Astound’s parent, the New Jersey-based investment firm Stonepeak, will hold the majority.

Still, the blog post notes: “The combined business will be led by the existing GFiber executive team, utilizing their expertise in high-speed fiber innovation to manage the combined network footprint. The combination of GFiber’s high-growth metropolitan networks with Astound’s established infrastructure, team and capabilities creates a highly complementary, national network platform.”

Where GFiber is available. (GFiber)

The states Astound currently serves. (Astound Broadband)

The companies say the arrangement will create a “leading independent fiber provider.” However, the deal naturally raises questions about if the GFiber brand is sticking around, and if any other changes might occur. GFiber has been a repeat winner in our Reader’s Choice awards for top ISP. Meanwhile, Astound says it’s the “sixth largest telecommunications provider, serving eight of the top ten metro markets in the United States.” Stonepeak acquired Astound back in 2020 for $8.1 billion.

We reached out to both companies for more details. Stonepeak merely told PCMag: “We’re not providing additional details beyond the release at this time.” But Google says that GFiber will continue to do business as GFiber. The merger is slated to close in Q4. 

For now, the blog post hints that the merger will leave GFiber in a better financial situation. Back  in 2016, the business halted a fiber expansion amid layoffs before jumpstarting them again in 2022. 

The companies wrote: “This agreement advances GFiber’s mission of redefining internet connectivity and represents a major step toward its goal of operational and financial independence. GFiber will have the external capital and strategic focus needed to accelerate its next phase of growth, expanding its customer-first approach and pioneering fiber technology across the country.”

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About Our Expert

Michael Kan

Senior Reporter

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Experience

I’ve been a journalist for over 15 years. I got my start as a schools and cities reporter in Kansas City and joined PCMag in 2017, where I cover satellite internet services, cybersecurity, PC hardware, and more. I’m currently based in San Francisco, but previously spent over five years in China, covering the country’s technology sector.

Since 2020, I’ve covered the launch and explosive growth of SpaceX’s Starlink satellite internet service, writing 600+ stories on availability and feature launches, but also the regulatory battles over the expansion of satellite constellations, fights with rival providers like AST SpaceMobile and Amazon, and the effort to expand into satellite-based mobile service. I’ve combed through FCC filings for the latest news and driven to remote corners of California to test Starlink’s cellular service.

I also cover cyber threats, from ransomware gangs to the emergence of AI-based malware. Earlier this year, the FTC forced Avast to pay consumers $16.5 million for secretly harvesting and selling their personal information to third-party clients, as revealed in my joint investigation with Motherboard.

I also cover the PC graphics card market. Pandemic-era shortages led me to camp out in front of a Best Buy to get an RTX 3000. I’m now following how President Trump’s tariffs will affect the industry. I’m always eager to learn more, so please jump in the comments with feedback and send me tips.

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