Metronet today announced the acquisition of fiber company US Internet for an undisclosed price.
US Internet, a Minnetonka, Minnesota-based company, operates a fiber network with symmetrical speeds up to 10 Gbps in an area that includes more than 140,000 homes and businesses in and around Minneapolis.
The acquisition increases the presence of Metronet, which itself was recently acquired by a joint venture between T-Mobile and KKR. Metronet’s fiber network is expanding quickly, with construction underway in dozens of cities at a time.
“USI is the premier independent fiber provider in Minneapolis with a tremendous reputation, and we are so proud that it is becoming part of the Metronet family,” David Heimbach, Metronet CEO, said in a prepared statement about the US Internet acquisition.
“Their coverage map complements Metronet’s own footprint in the greater Minneapolis area, creating a strong strategic fit as we continue to accelerate the expansion of our network.”
Before the US Internet deal, KKR and T-Mobile completed their acquisition of Metronet in late July. The transaction brought together Metronet’s broadband infrastructure, rapidly growing residential and commercial fiber business operations and existing customers, creating a scaled platform to accelerate fiber deployment across underserved markets.
“Fiber is the connective tissue of the modern economy—from tele‑health and remote learning to AI‑powered enterprises,” Waldemar Szlezak, KKR partner and global head of digital infrastructure, said at the time.
“For over 15 years, KKR has been a leader in the fiber space, delivering capital and capabilities to the world’s most critical networks. By combining Metronet’s leading build engine with T‑Mobile’s national reach, we can accelerate world‑class connectivity to millions of underserved homes and businesses.”
Outside of the US Internet acquisition, one of the latest Metronet expansions was announced in mid-May for Bartlett, Illinois, a northwest suburb of Chicago. The new network was expected to provide symmetrical service up to 5 Gbps to residential customers and symmetrical service of up to 10 Gbps to businesses.
Metronet said that the private investment would be “tens of millions of dollars,” but offered no specifics.
