Google’s GFiber internet business is merging with Astound Broadband

Alphabet will be a minority shareholder in the deal, which is expected to close later this year.

Google has announced that GFiber is merging with Astound Broadband, in an agreement that sees Astound’s parent company Stonepeak become the majority owner, with Alphabet retaining a minority stake.

No financial specifics were detailed in a press release, but the new combined business will be an independent provider led by GFiber’s executive team, who Google says will use its "expertise in high-speed fiber innovation to manage the combined network footprint." Astound already serves over one million customers across the US, and by joining forces Google says the two providers will be able to grant better internet access to more communities.

GFiber, formerly known as Google Fiber, has been around for nearly 15 years, and currently offers speeds of up to 8Gbps on its $150/month Edge ...