Verizon Communications Inc. is an American telecommunications company founded in 1983 as Bell Atlantic and headquartered in New York City. It is the world’s second-largest telecommunications company by revenue and the largest wireless carrier in the United States.
According to reports, Verizon has announced plans to acquire Frontier Communications in an all-cash deal valued at $20 billion USD to boost its fiber network and strengthen its position to deliver premium broadband services to existing as well as new customers.
The report further mentions that the deal is expected to close in 18 months and is projected to generate at least $500 million USD in annual run-rate cost synergies, as well as compete in more markets throughout the United States.
Frontier Communications Parent, Inc. is an American telecommunications company founded in 1935 and headquartered in Dallas, Texas. It operates a fiber-optic network, and cloud-based services and offers broadband internet, television, and computer technical support to residents and businesses.
