Bain Capital and Tillman Global Holdings are investing $1.5 billion in Eaton Fiber, a Tillman affiliate. This investment accelerates the deployment of Verizon's fiber network to more than one million new homes and businesses. The expansion targets locations outside of Verizon's current service areas.
Eaton Fiber will use the funds to acquire Ripple Fiber, a fiber-optic internet provider. Under the agreement, Eaton Fiber will build, own, and operate the wholesale network.
Verizon will serve as the exclusive retail provider for residential and small business services. This partnership provides a capital-efficient model for Verizon to grow its broadband customer base.