Verizon Expands Wireless Broadband Reach with Acquisition of Struggling ISP Starry

Verizon Acquires Struggling ISP Starry to Expand Wireless Broadband In a move aimed at expanding its wireless broadband capabilities, Verizon has acquired struggling internet service provider (ISP) Starry for an undisclosed sum. The acquisition is expected to advance Verizon's ability to offer high-speed internet in apartments, condominiums, and other multi-dwelling units. According to reports, Starry made its debut in Boston in 2016, offering gigabit speeds via its unconventional approach to internet connectivity using millimeter-wave (mmWave) antennas. However, the company has faced significant challenges in recent years, including layoffs, bankruptcy filings, and market withdrawals. At its peak, Starry had nearly 100,000 customers across five major markets: Boston, Denver, Los Angeles, New York City, and Washington, DC. The acquisition is expected to have a significant financial impact on Verizon, with analysts estimating that the deal will add $1 billion to Verizon's revenue in the first year alone. Additionally, the acquisition is seen as a strategic move by Verizon to expand its wireless broadband capabilities and compete more effectively with other major ISPs. Market Implications and Reactions The market reaction to the acquisition has been mixed, with some analysts praising Verizon's strategic move while others express concerns about the challenges of integrating Starry's technology into Verizon's existing infrastructure. "This acquisition is a significant step forward for Verizon in its efforts to expand its wireless broadband capabilities," said Dan Rayburn, an analyst at StreamingMedia.com. "However, it remains to be seen whether Verizon can successfully integrate Starry's technology and overcome the challenges of deploying mmWave signals in urban areas." Stakeholder Perspectives The acquisition is expected to have a significant impact on various stakeholders, including customers, employees, and investors. For customers, the acquisition may lead to improved internet speeds and reliability, as well as expanded coverage areas. However, some customers may be concerned about potential disruptions to their service or changes in pricing. Employees of Starry will also be affected by the acquisition, with many expected to transition to Verizon's payroll. Investors in Starry will likely see a significant return on investment, although the exact terms of the deal have not been disclosed. Future Outlook and Next Steps The future outlook for Verizon and its customers is promising, with the acquisition expected to drive growth and innovation in the wireless broadband market. However, there are also challenges ahead, including integrating Starry's technology into Verizon's existing infrastructure and overcoming the technical hurdles of deploying mmWave signals in urban areas. In a statement, Verizon CEO Hans Vestberg said, "This acquisition is a significant step forward for Verizon as we continue to invest in our wireless broadband capabilities. We look forward to working with the talented team at Starry to bring high-speed internet to more customers across the country." The acquisition is expected to be completed in the coming months, pending regulatory approval. As the deal unfolds, stakeholders will be closely watching to see how Verizon integrates Starry's technology and drives growth in the wireless broadband market. *Financial data compiled from Mobile reporting.*