KKR completes Metronet acquisition with T-Mobile joint venture

KKR (NYSE: KKR) completed its acquisition of Metronet through a joint venture with T-Mobile, according to a company statement. The transaction involves one of the largest independent fiber-to-the-home providers in the United States.

Under the arrangement, Metronet becomes a wholesale internet services provider while T-Mobile Fiber acquired Metronet's residential customers. T-Mobile will handle residential customer acquisition, support and customer experience, while Metronet continues building fiber-optic network infrastructure and maintaining existing networks. Metronet retained its commercial services business.

Metronet currently provides multi-gigabit internet service in more than 300 communities across 19 states. The company serves more than 2.6 million homes and businesses with fiber coverage spanning more than 42,000 miles.

KKR has committed $31 billion of equity into digital infrastructure investments. The firm's digital infrastructure portfolio includes 12 fiber investments covering approximately 30 million homes in the United States, Europe and Latin America, with about 4 million new homes connected to fiber infrastructure annually.

"Metronet has built the industry's most efficient fiber‑construction engine, bringing world‑class digital infrastructure to underserved communities at an unprecedented pace," said Dave Heimbach, Metronet's chief executive officer.

The investment firm also supports five data center platforms across the United States, Asia-Pacific and Europe regions with over 155 facilities and 9 gigawatts of pipeline capacity, plus 130,000 wireless infrastructure sites across Europe and Asia-Pacific.

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