Verizon announces agreement to acquire Starry

Verizon (VZ) Communications announced a definitive agreement to acquire Starry. This strategic acquisition advances Verizon’s differentiated ability to deliver high-speed internet to multi-dwelling units and urban communities, leveraging Starry’s innovative millimeter wave technology. “As the #1 mobility provider, Verizon’s acquisition of Starry is another step to extend our leadership in mobility and broadband,” said Joe Russo, EVP and President, Global Networks and Technology, Verizon. “Starry has demonstrated a unique and efficient approach to delivering high-speed internet in complex MDU environments. By integrating their technology and expertise, we will accelerate our fixed wireless access capabilities, giving millions of new customers a powerful and affordable broadband option. This architecture is less expensive to build, quicker to deploy, and uniquely addresses the complexities of urban settings where we can leverage our existing fiber and mmWave assets.”