T-Mobile America’s 5G leader and fastest-growing broadband provider, and EQT, a purpose-driven global investment organization, announced the successful close of their joint venture (JV) to acquire fiber-to-the-home provider Lumos. As part of the transaction, many Lumos customers will soon become T-Mobile Fiber customers and begin enjoying new offers and benefits as they’re welcomed into the Magenta family.

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T-Mobile and EQT Close Joint Venture to Acquire Lumos and Expand Fiber Internet Access. The partnership will expand fiber to millions of customers and bring even more capable broadband options, greater value, and benefits to customers.

This deal marks a major milestone in T-Mobile’s broadband growth and builds on the Un-carrier’s success in delivering best-in-class connectivity. By bringing more value and choice to the millions of Americans who have previously been underserved, T-Mobile continues to deliver on its mission to change broadband for good. T-Mobile will take full ownership of the customer experience, using its proven brand, nationwide retail footprint, differentiated marketing and customer-first service model to attract new subscribers.

Currently, Lumos operates a 7,500-mile fiber network, providing high-speed connectivity to 475,000 homes across the Mid-Atlantic. The joint venture combines the Un-carrier’s unique assets with EQT’s fiber infrastructure expertise, and Lumos’ scalable build capabilities to drive rapid network expansion, with the goal of reaching 3.5 million homes by the end of 2028. To fuel this growth, T-Mobile invested $950 million into the joint venture, with an additional $500 million planned between 2027 and 2028 to support further expansion. T-Mobile will provide an update to its full year 2025 guidance resulting from this transaction during its Q1 earnings call.

“T-Mobile is already the fastest-growing broadband provider in America, and expanding into fiber helps us take the next big step in delivering what customers truly want – faster, more reliable internet that simply works,” said Mike Katz, T-Mobile President of Marketing, Strategy and Products. “People deserve better when it comes to their home internet: fewer disruptions, more value, and support that actually feels supportive. We’re excited to welcome Lumos customers to the T-Mobile family and bring them the Un-carrier experience – built around their needs, fueled by innovation, and focused on making life easier.”

Unbeatable Connectivity, Un-carrier Perks

As Lumos customers continue to enjoy the same high-speed fiber internet they rely on today at low monthly prices, they’ll now also enjoy the value-add benefits they get from simply being a part of the T-Mobile family. They will have access to T-Mobile’s best-in-class customer experience and nationwide retail presence. Every plan also comes with unlimited data plus Wi-Fi equipment and installation included, so customers can enjoy the freedom and flexibility of reliable internet. Additionally, new and existing customers will enjoy VIP treatment through Magenta Status, which includes exclusive benefits like discounts on food, gas, entertainment and top brands, plus freebies every Tuesday in the T-Life app. All with T-Mobile’s standard ‘no exploding bills’ pricing structure.

“We’re excited to begin this joint venture and even more energized about what’s ahead,” said Brian Stading, CEO of Lumos. “Partnering with EQT and T-Mobile, we’re ready to scale faster, deliver cutting-edge fiber technology to more people, and change even more lives. This is about more than just internet – it’s about building the infrastructure of the future and creating lasting opportunity, connection, and impact for communities.”

“We are thrilled to officially embark on this next chapter of growth with Lumos alongside our partners at T-Mobile,” said Nirav Shah, Partner within EQT’s Infrastructure Advisory team. “This joint venture represents a powerful combination of EQT’s digital infrastructure expertise, Lumos’ proven fiber deployment capabilities, and T-Mobile’s customer-first approach and national reach. Together, we are well-positioned to accelerate access to high-quality fiber broadband to millions of underserved Americans and look forward to executing on our plans to deliver the critical connectivity that empowers communities across the country.”

Accelerating T-Mobile’s Broadband Leadership

As the fifth-largest and fastest-growing Internet service provider in the U.S., T-Mobile continues to redefine broadband. The company offers 5G Home Internet to 70 million homes, serving more than 6.4 million customers nationwide as of the end of 2024, and has introduced T-Mobile Fiber in parts of 32 U.S. markets. Fiber-to-the-home complements T-Mobile’s successful 5G Home Internet offering, which currently has over 1 million customers on its waitlist. This expansion in fiber opens an additional avenue to meet the growing demand for T-Mobile broadband. Through its strategic fiber partnerships and joint ventures, the Un-carrier expects to reach 12 to 15 million households, or more, with fiber by the end of 2030.

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Source – prnewswire