altafiber, the US fixed broadband operator formerly known as Cincinnati Bell, has successfully secured USD 600 million in funding to support the expansion of its fiber network across multiple states. With a primary focus on upgrading existing fiber infrastructure and entering new markets in Ohio, Kentucky, Indiana, and Hawaii, altafiber aims to bridge the digital divide and foster economic growth.
Funding for Fiber Network Expansion
This new funding represents a significant step in altafiber’s expansion efforts. Since its “take-private” transaction in September 2021, the company has made substantial progress. Currently, altafiber has already passed fiber to approximately 300,000 addresses and is committed to completing fiber construction to every single-family unit within Greater Cincinnati by the end of 2023.
Additionally, altafiber has ambitious plans to complete Hawaii’s statewide fiber network construction by the end of 2027. The company proudly announces that it has extended fiber connectivity to over 1.1 million homes.
New Expansion Markets
In addition to its existing territories, altafiber is set to expand its multi-gigabit fiber network to approximately 400,000 homes across communities in Ohio, Kentucky, and Indiana. These expansion areas encompass various counties and cities, including Butler, Warren, and Greene Counties in Ohio, as well as Boone, Kenton, and Campbell Counties in Kentucky. Moreover, regional cities such as Greater Dayton, Dublin, Middletown, Waynesville, Xenia, Lawrenceburg, and Greendale will also benefit from this expansion.
Investor Support
The equity raise for this ambitious expansion was exclusively supported by existing investors, including funds managed by Macquarie Asset Management, Ares Management, and co-investors. Their continued support reflects confidence in altafiber’s mission to enhance connectivity and broadband access across multiple states.
altafiber’s Commitment to Connectivity
altafiber, formerly Cincinnati Bell, has rebranded to altafiber in Ohio, Kentucky, and Indiana. The company specializes in providing integrated communication solutions, including high-speed internet, video, voice, and data services, all delivered over its state-of-the-art fiber-optic network. Additionally, altafiber offers its services in Hawaii under the brand name “Hawaiian Telcom.”
With this substantial funding, altafiber is poised to further expand its footprint, strengthen connectivity, and play a pivotal role in the digital transformation of communities across the United States.
