Just two days after announcing the markets where it plans to build in North Carolina, Brightspeed has made a similar announcement for Virginia. The company says that it will pass 130,000 addresses in the Commonwealth during the next several years, with the first 60,000 of those passings to be completed by the end of next year.
The first phase of the Virginia rollout will include portions of Charlottesville and parts of Albemarle, Campbell, Henry, Page, Rockbridge and Smyth counties.
It’s been a big week for Brightspeed. On June 7, the company announced the specific markets for a planned network build that it says will reach 300,000 locations in North Carolina. That portion of the company’s work in its home state will be completed by the end of 2023. In subsequent years, the company plans to add 500,000 more addresses in the state.
Virginia and North Carolina are two of the 20 states the company will serve. “We are looking forward to the start of our ambitious network build in Virginia,” Brightspeed Chief Operating Officer Tom Maguire said in a press release. “Households and businesses have a critical need for reliable, high-quality internet to help them accomplish what is most important, whether it is working from home, remote learning, access to healthcare, streaming entertainment, or simply staying connected with others.”
It’s a unique moment for the company, which is comprised of properties Apollo Management expects to acquire from Lumen in a $7.5 billion acquisition. It expects to obtain regulatory approval during the third quarter and to close the transaction during the fourth quarter.
Assuming the deal indeed closes, Brightspeed plans to invest $2 billion to reach up to 3 million addresses during the next five years.
Until that happens, however, Brightspeed is in a bit of a holding pattern. Right now, it is engaged in “design and construction preparation,” which began in March. The company says that the new construction – once it begins – will make use of 10G XGS-PON technology.
The company plans more announcements in the coming weeks.