Verizon, Corning agree to $1.05 billion fiber deal
Verizon will to provide fiber optic cable and associated hardware for Verizon to ensure critical coverage and capacity for its nationwide wireless broadband network.
The agreement calls for Corning to provide and Verizon to purchase up to 20 million kilometers (12.4 million miles) of optical fiber each year from 2018 through 2020, with a minimum purchase commitment of $1.05 billion.
Verizon has been reinventing its network architecture around a next-generation fiber platform that will support all of the company’s businesses.
This new architecture is designed to improve Verizon’s 4G LTE coverage, speed the deployment of 5G, and deliver high-speed broadband to homes and businesses of all sizes.
In an initial deployment, Verizon launched One Fiber in Boston in 2016 and plans to invest $300 million over six years to deploy it throughout the city. ■