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Google Fiber Sold to Stonepeak Private Equity, to Merge with Astound Broadband

Canopy Business
Google Fiber van representing the sale of GFiber to Stonepeak private equity

Alphabet announced it will sell a majority stake in GFiber (Google Fiber) to infrastructure private equity firm Stonepeak, with the ISP set to merge with Astound Broadband to create a combined provider covering approximately 7.1 million locations across 26 states. The deal is expected to close in Q4 2026, pending regulatory approvals; financial terms were not disclosed. Alphabet will retain a minority stake while the combined entity gains capital to accelerate fiber expansion against AT&T, Comcast, and Charter.

Key Takeaways

  • GFiber passes 2.8M locations in 15 states; Astound covers 4.45M locations in 12 states + DC — combined ~7.1M locations in 26 states
  • Deal closing targeted Q4 2026; Stonepeak majority-owned post-merger; Alphabet retains minority stake
  • Combined company faces AT&T at 53% of locations, Comcast at 46%, and Charter at 43% of overlapping territory

Original source: Ars Technica