CHARLOTTE, N.C., Nov. 17, 2021 /PRNewswire/ -- Brightspeed
today announced the launch of its brand, mission, and leadership
team to create a next-generation telecom and connectivity business.
Brightspeed will initially be comprised of the incumbent local
exchange carrier (ILEC) assets and associated operations of Lumen
Technologies (NYSE: LUMN) across 20 states, which are the subject
of a pending acquisition by Apollo-managed funds (NYSE: APO).
Brightspeed plans to invest more than $2
billion to build a network that will bring faster, more
reliable Internet and Wi-Fi to communities throughout the Midwest,
Southeast, and certain parts of Pennsylvania and New
Jersey. Brightspeed's planned fiber optics transformation is
expected to reach up to three million homes and businesses over the
next five years, including in many places where fiber and advanced
technology has not historically been deployed to help bridge the
digital divide.
Led by a team of broadband and telecommunications industry
leaders, including Chief Executive Officer Bob Mudge, Chief Operating Officer Tom Maguire, and Chief Administration Officer
Chris Creager, the company is
assembling an exceptional team of experts across disciplines to
build a next generation internet and telecom business. The
leadership team, which has worked together for more than two
decades, was responsible for the buildout and growth of Verizon's
game-changing fiber-based Fios service. Additional senior leaders
who have joined the executive management team are Chief Legal
Officer Steve Tugentman, Chief Human
Resources Officer Colon McLean, and Chief Technology Officer
Ashok Kumar.
"This is an exciting and tangible milestone for our company. As
we take the first steps in our journey and develop our
infrastructure investment plans to provide consumers, local
businesses and enterprise customers with the fastest, most reliable
connections they need to accomplish what's most important to them,
we now have a brand identity that uniquely reflects our product
attributes and customer experience," said Mr. Mudge. "We have an
incredibly talented team of network builders and lifelong customer
advocates who are eager to accelerate the upgrade to fiber optic
technologies in parts of the country that have been historically
under-invested."
"Technology is the key to our digital future, and we believe all
customers should have access to the best service possible, whether
they connect to our legacy copper network or our new fiber
platform," said Mr. Maguire.
"We are thrilled to introduce Brightspeed and to continue
building our team with innovators who share a commitment to
outstanding customer service," said Mr. Creager. "We know what it
takes to drive industry change, and while the investment and
transformation we are planning are bold, we are confident we will
have the right team members, partners, and resources to bring fast,
reliable, and user-friendly internet to the communities that need
it most."
The company also announced its headquarters in Charlotte, North Carolina, with future assets
and associated operations in 20 states across the Midwest,
Southeast, and portions of Pennsylvania and New
Jersey. As Brightspeed executes on its mission of
reimagining and delivering the fastest and most reliable
connections for its customers, the company is currently expanding
its exceptional team to help meet anticipated customer demand.
For more information about Brightspeed's vision and career
opportunities, please visit the company's website,
www.brightspeed.com.
The acquisition of Brightspeed's future assets and operations by
the Apollo funds from Lumen is subject to customary closing
conditions, including regulatory approvals. It is expected to close
in the second half of 2022.
About Brightspeed
Headquartered in Charlotte, N.C. and expected to have assets
and associated operations in 20 states, Brightspeed will provide
broadband and telecommunications services through a network
platform that serves more than six million homes and businesses.
The company aims to bridge the digital divide by deploying a
state-of-the-art fiber network and a customer experience that makes
staying connected simple and seamless.
Media
Joele Frank,
Wilkinson Brimmer Katcher
Erik Carlson / Jon Keehner
(212) 355-4449
pr@brightspeed.com
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SOURCE Brightspeed