GFiber and Astound Broadband Announce Merger Backed by Stonepeak

GFiber, formerly known as Google Fiber, and Astound Broadband have announced plans to merge in a deal supported by infrastructure investor Stonepeak Infrastructure Partners. Under the agreement, Stonepeak will hold the majority ownership of the combined company, while Alphabet will retain a significant minority stake. Stonepeak previously partnered with Patriot Media to acquire Astound in 2020 for $8.1 billion, making it the largest investor in Astound. The merger is expected to finalize in the fourth quarter of 2026, and the combined business will be managed by GFiber’s current executive team, led by CEO Dinni Jain. Jain, who became GFiber’s CEO in 2018 and has prior experience with Time Warner Cable and Insight Communications, stated that the merger supports GFiber’s goal of redefining internet connectivity and achieving operational and financial independence. The new capital and strategic focus are intended to accelerate GFiber’s growth, expand its customer-first approach, and advance fiber technology across the United States. The partnership with Astound is also seen as a strategic move to scale services and connect more households with high-quality internet solutions.