Verizon accelerates fixed wireless broadband expansion with acquisition of Starry
Key Highlights:
- Starry is a fixed wireless broadband provider serving multi-dwelling units (MDUs) in five markets, including Boston, Denver, Los Angeles, New York and Washington, D.C.
- The MDU solution will accelerate Verizon's plan to double its fixed wireless subscribers to 8-9 million by 2028 and expand fixed wireless broadband availability to 90 million households in the same time period.
- Acquisition expected to close by first-quarter 2026.
NEW YORK, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Verizon Communications Inc. ((NYSE, NASDAQ:VZ) today announced a definitive agreement to acquire Starry, a leading provider of next-generation fixed wireless broadband services. This strategic acquisition advances Verizon's differentiated ability to deliver high-speed internet to multi-dwelling units (MDUs) 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."
This strategic acquisition advances Verizon's differentiated ability to deliver high-speed internet to multi-dwelling units (MDUs) and urban communities, leveraging Starry's innovative millimeter wave technology and established market presence. Verizon is uniquely positioned to accelerate this expansion because of its significant fiber backbone and extensive holdings of mmWave spectrum, which are essential for providing the high capacity and ultra-fast speeds required to serve dense urban environments and apartment complexes.
Starry currently serves nearly 100k MDU customers in five markets: Boston, New York, Los Angeles, Denver, and Washington, D.C., and its MDU network provides a significant opportunity to expand Verizon's FWA footprint. Starry has a Net Promoter Score (NPS) that is nearly double the industry average.
The acquisition is expected to close by first-quarter 2026, subject to FCC approval and other customary closing conditions.
Advisors
Guggenheim Securities, LLC acted as exclusive financial advisor to Starry.
About Verizon
Verizon Communications Inc. ((NYSE, NASDAQ:VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.8 billion in 2024. Verizon's world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores.
About Starry
At Starry, we believe the future is built on connectivity and that connecting people and communities to high-speed, broadband internet should be simple and affordable. Using our innovative, wideband hybrid-fiber fixed wireless technology, Starry is deploying gigabit capable broadband to the home without bundles, data caps, or long-term contracts. Headquartered in Boston, Starry is currently available in Boston, New York City, Los Angeles, Washington, DC, and Denver. To learn more about Starry, visit: https://starry.com/.
Forward Looking Statements
In this communication, we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operations. Forward-looking statements also include those preceded or followed by the words "anticipates," "assumes," "believes," "estimates," "expects," "forecasts," "hopes," "intends," "plans," "targets" or similar expressions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see our most recent annual and quarterly reports and other filings filed with the SEC. Factors which could have an adverse effect on our operations and future prospects include, but are not limited to, the following: risks relating to the proposed transactions, including in respect of the ability to obtain required regulatory approvals and the satisfaction of other closing conditions on a timely basis or at all; unanticipated difficulties and/or expenditures relating to the proposed transactions and any related financing; uncertainties as to the timing of the completion of the proposed transactions; litigation relating to the proposed transactions; the impact of the proposed transactions on each company's business operations (including the threatened or actual loss of subscribers, employees or suppliers); the inability to obtain, or delays in obtaining cost savings and synergies from the proposed transactions; incurrence of unexpected costs and expenses in connection with the proposed transactions; risks related to changes in the financial, equity and debt markets; and risks related to political, economic and market conditions. In addition, the risks to which Starry's business is subject could adversely affect the proposed transactions and, following the completion of the proposed transactions, our operations and future prospects.
Media contacts:
Katie Magnotta
[email protected]
Aimee Knox
[email protected]
