Verizon Accelerates Fixed Wireless Broadband Expansion with Starry Acquisition | Press release

Highlights:

• Starry is a fixed wireless broadband provider serving multi-dwelling units (IMDUs) in five markets, including Boston, Denver, Los Angeles, New York and Washington, DC.
• The MDU solution will accelerate Verizon’s plan to double the number of fixed wireless subscribers to 8 to 9 million by 2028 and expand fixed wireless broadband availability to 90 million homes over the same period.
• The acquisition is expected to be completed by the first quarter of 2026.

New York, New York – 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 strengthens Verizon’s differentiated ability to deliver high-speed Internet access to apartment buildings (MDUs) and urban communities, leveraging Starry’s innovative millimeter wave technology.

“As the #1 mobility provider, Verizon’s acquisition of Starry is another step in expanding our leadership in mobility and broadband,” said Joe Russo, executive vice president and president of global networks and technology at Verizon. “Starry has demonstrated a unique and effective approach to providing high-speed Internet access in complex MDU environments. By integrating their technology and expertise, we will accelerate our fixed wireless access capabilities, providing millions of new customers with a powerful and affordable broadband option.

This strategic acquisition strengthens Verizon’s differentiated ability to provide high-speed Internet access to apartment buildings (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 extensive fiber optic network and broad millimeter wave spectrum, critical to providing the high capacity and ultra-fast speeds required to serve dense urban environments and apartment complexes.

Starry currently serves nearly 100,000 MDU customers in five markets: Boston, New York, Los Angeles, Denver and Washington, DC, and its MDU network provides a significant opportunity to expand Verizon’s FWA footprint. Starry has a Net Promoter Score (NPS) that is almost double the industry average.

The acquisition is expected to be completed by the first quarter of 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) optimizes the way its millions of customers live, work and play, meeting their demand for mobility, reliable network connectivity and security. Headquartered in New York and serving countries around the world and nearly every Fortune 500 company, Verizon generated $134.8 billion in revenue in 2024. Verizon’s world-class team continually innovates to meet customers where they are today and equip them for the needs of tomorrow. To learn more, visit verizon.com or find a store at verizon.com/stores.

About Starry

At Starry, we believe that the future is about connectivity and that connecting people and communities to high-speed, high-speed internet should be simple and affordable. With our innovative fixed wireless broadband and hybrid fiber technology, Starry deploys gigabit broadband to the home without plans, data caps or long-term contracts. Headquartered in Boston, Starry is currently available in Boston, New York, 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 information regarding 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,” “objectives” or similar expressions. For these 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 disclose the results of any revision of these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. For a discussion of some of the important risks and factors that could affect these forward-looking statements, see our most recent annual and quarterly reports and other filings with the SEC. Factors that could adversely affect our operations and future prospects include, but are not limited to, the following: risks relating to the proposed transactions, including with respect to the ability to obtain required regulatory approvals and the satisfaction of other closing conditions on a timely basis or at all; unforeseen difficulties and/or expenses relating to the proposed transactions and any related financing; uncertainties regarding the timing of completion of the proposed transactions; disputes relating to proposed transactions; the impact of the proposed transactions on each company’s business operations (including the threat or actual loss of subscribers, employees or suppliers); failure to obtain, or delays in obtaining, cost savings and synergies from proposed transactions; the occurrence of unforeseen costs and expenses related to the proposed transactions; risks linked to developments in financial markets, equities and debt; and risks related to political, economic and market conditions. In addition, the risks to which Starry’s business is subject could have an adverse effect on the proposed transactions and, following consummation of the proposed transactions, on our operations and future prospects.