Verizon Puts Up $1.8 Billion for XO’s Fiber Business

Verizon Communications said that it has inked a $1.8 billion deal to acquire XO Communications’ fiber-optic network business. According to XO’s most current corporate overview document, its network spans about 20,000 route miles, 1.2 million metro fiber miles, more than 4,000 on-net buildings, and north of 1,000 central offices. Tied into the deal, Verizon will also simultaneously lease available XO wireless spectrum, with an option to buy XO’s entity that holds its spectrum, by the end of 2018. Verizon said the fiber-facing part of the deal will enable it to better serve enterprise and wholesale customers, and to add density to its cellular network.