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Add-on Acquisition • Communications

Verizon Communications Acquires Frontier Communications Parent

On September 5, 2024, Verizon Communications acquired communications company Frontier Communications Parent for 20.0B USD

Acquisition Context
  • This is Verizon Communications’ 14th transaction in the Communications sector.
  • This is Verizon Communications’ 3rd largest (disclosed) transaction.
  • This is Verizon Communications’ 33rd transaction in the United States.
  • This is Verizon Communications’ 1st transaction in Texas.

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M&A Deal Summary
Date September 5, 2024
Target Frontier Communications Parent
Sector Communications
Buyer(s) Verizon Communications
Deal Type Add-on Acquisition
Deal Value 20.0B USD
Advisor(s) PJT Partners
Barclays Investment Bank (Financial)
Cravath, Swaine & Moore
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target Company

Frontier Communications Parent

Dallas, Texas, United States
Frontier Communications Parent is a provider of broadband, voice, satellite video, wireless Internet data access, data security solutions, bundled offerings, specialized bundles for residential customers, small businesses, and home offices, and advanced communications for medium and large businesses in 27 states. Frontier Communications Parent was founded in 1935 and is headquartered in Dallas, Texas.
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Buyer Overview 1

Buyer

Verizon Communications

New York, New York, United States
Category Company
Founded 1983
Sector Communications
Employees99,600
Revenue 134.8B USD (2024)
DESCRIPTION
Verizon storefront in New York City.
Verizon storefront in New York City.

Verizon Communications is a provider of communications, information, and entertainment products and services to consumers, businesses and governmental agencies. Verizon offers voice, data and video services and solutions on wireless and wireline networks that are designed to meet customers’ demand for mobility, network connectivity, security and control. Verizon Communications was founded in 1983 and is based in New York, New York.

Deal Context for Buyer #
Overall 35 of 36
Sector: Communications 14 of 15
Type: Add-on Acquisition 28 of 29
State: Texas 1 of 1
Country: United States 33 of 34
Year: 2024 1 of 1
Size (of disclosed) 3 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-07 EdgeCast

Los Angeles, California, United States

EdgeCast helps companies meet the ever-growing expectations of their customers. Edgecast's set of solutions across content delivery, cloud security, and video streaming, combined with a team of customer-oriented domain experts, streamlines operations and improves efficiencies, so businesses can redirect their energy into creating value for their customers not managing multiple vendors and workflows. EdgeCast was founded in 2006 and is based in Los Angeles, California.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-08 Starry

Boston, Massachusetts, United States

Starry is a manufacturer of Wi-Fi routers and offers wireless Internet service delivered via high-frequency millimeter wave technology. Starry was founded in 2014 and is based in Boston, Massachusetts.

Buy -

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