T-Mobile US closes on Lumos fiber JV; Airspan takes control of Corning’s in-building wireless biz
A couple of major infrastructure deals have now officially closed. T-Mobile US has wrapped up its joint acquisition, with private equity company EQC, of fiber-to-the-home provider Lumos, in what the carrier called a “major milestone in T-Mobile’s broadband growth.” Meanwhile, Airspan Networks officially took control of Corning’s wireless in-building infrastructure business.
Lumos serves the Mid-Atlantic region, where it operates a 7,500-mile fiber network and services 475,000 homes (Of note: When the transaction was first announced, Lumos was described as serving 320,000 households, so the company is already expanding its network quickly).
T-Mo has big plans for broadband. It plans to expand Lumos’ network to reach 3.5 million homes by the end of 2028, and it has put up $950 million for the JV so far, with another $500 million planned for investment between 2027-2028. T-Mobile US said that it already offers fiber in parts of 32 markets across the U.S. through its fiber JVs and partnerships, and it expects to reach 12-15 million households or more with fiber by the end of 2030.
Comparatively, the company said that it reached 70 million homes with its Fixed Wireless Access network and serves more than 6.4 million customers with FWA, plus a waitlist that has more than 1 million customers on it. Its fiber services are expected to help meet some of that broadband demand.
John Freier, president of the Consumer Group of T-Mobile US, said at an investor event in December 2024 that T-Mo’s fiber JVs stand on their own as business propositions and that while the company wants to cross-sell to deepen customer relationships, the fiber deals are “not some defense mechanism or some things that we have to go do to protect our mobile business. Our mobile business is in a great position today. It’s been durable over the next five years and irrespective of what others are doing, we believe it will continue to be durable for the years ahead.”
T-Mobile US said that it will be taking “full ownership of the customer experience” for Lumos customers and that services will be branded as T-Mobile Fiber. T-Mobile US said that every T-Mobile Fiber plan will come with unlimited data, plus Wi-Fi equipment and installation included, and access to T-Mobile US’ Magenta Status perk program.
“We’re excited to begin this joint venture and even more energized about what’s ahead,” said Brian Stading, CEO of Lumos, in a statement. “Partnering with EQT and T-Mobile, we’re ready to scale faster, deliver cutting-edge fiber technology to more people, and change even more lives. This is about more than just internet – it’s about building the infrastructure of the future and creating lasting opportunity, connection, and impact for communities.”
Nirav Shah, partner within EQT’s Infrastructure Advisory team, said that the JV “represents a powerful combination of EQT’s digital infrastructure expertise, Lumos’ proven fiber deployment capabilities, and T-Mobile’s customer-first approach and national reach. Together, we are well-positioned to accelerate access to high-quality fiber broadband to millions of underserved Americans and look forward to executing on our plans to deliver the critical connectivity that empowers communities across the country.”
Airspan closes on Corning DAS, small cell buy
Meanwhile, Airspan Networks now has full ownership of Corning’s wireless assets, including its 6000 and 6200 distributed antenna systems (DAS) and its SpiderCloud 4G and 5G small cell Radio Access Network (RAN) solutions.
The company has put Corning and SpiderCloud veteran Amit Jain in charge as SVP and GM of In-Building Networks.
“This acquisition positions Airspan with an unmatched in-building wireless portfolio,” said Jain in a statement. “By uniting Corning’s trusted DAS and small cell solutions with Airspan’s proven expertise in public and private network deployments—backed by over one million radios shipped globally—we’re ready to deliver the future of indoor wireless connectivity. It’s an exciting new chapter for our customers and team.”
Besides the Corning acquisition, Airspan is also in the process of acquiring Jabil’s Open RAN radio portfolio and associated IP to expand its position in high-power radios for macro sites. As part of the acquisition, Airspan is also bringing Jabil’s radio R&D team and New Jersey testing labs into the fold.
