NEW ORLEANS – AT&T has announced a $5.75 billion all-cash agreement to acquire the Mass Markets fiber-to-the-home business of Lumen Technologies, including its Quantum Fiber brand, across 11 U.S. states including Louisiana. Lumen Technologies is headquartered in Monroe, Louisiana.
“We’re leading the race to connect more Americans with fiber, the best broadband connectivity technology available,” said John Stankey, Chairman and CEO, AT&T. “This deal with Lumen represents a significant investment in U.S. connectivity infrastructure that will create jobs and spur economic activity in numerous regions and major metro areas across 11 states. As we advance our fiber build, we’ll serve more communities with world-class connectivity and expect to roughly double where AT&T Fiber is available by the end of 2030.”
The deal encompasses approximately 1 million fiber customers and over 4 million fiber-enabled locations in metropolitan areas including Denver, Las Vegas, Seattle, Orlando, and Phoenix. Customers impacted are located across Colorado, Florida, Idaho, Iowa, Minnesota, Nebraska, New Mexico, Nevada, Oregon, Utah, and Washington and will gradually transition to AT&T Fiber services.
This shift will give customers access to AT&T’s network and services which include multi-gig internet speeds, built-in security features, and the AT&T Guarantee which ensures standard pricing plans and dependable service. AT&T and Lumen will work together under transitional agreements for about two years after the deal closes to ensure service continuity.
This expansion is part of AT&T’s broader goal to double its fiber footprint to about 60 million locations by the end of 2030.
The assets will be integrated into a new subsidiary, NetworkCo, which will function as a wholesale open-access platform. AT&T plans to keep a majority stake and find an equity partner within 6 to 12 months of closing the deal. After the equity partner joins, NetworkCo will be separated from AT&T’s financial statements and provide fiber access to AT&T, which will continue to serve all acquired Lumen Mass Markets fiber customers.
For Lumen, the sale allows a sharper focus on its enterprise services, including AI-driven networking and multi-cloud solutions. The proceeds will enable Lumen to reduce its debt by $4.8 billion and decrease annual interest expenses by over $300 million.
“We are sharpening our focus on enterprise customers, and this transaction enhances our financial flexibility, enabling us to reimagine networking for enterprises in a multi-cloud, AI-first world,” said Kate Johnson, President and CEO of Lumen.
The deal is subject to regulatory approvals and is expected to close in the first half of 2026. Post-closing, Lumen will provide transitional support to AT&T for approximately two years, covering aspects such as field operations, IT systems, billing, and customer support.
About Lumen Technologies, Inc.
Lumen Technologies, headquartered in Monroe, Louisiana, is a technology company providing networking, cloud, security, and collaboration solutions for businesses and governments. Originally founded as CenturyTel in Oak Ridge, Louisiana, the company rebranded to CenturyLink and later became Lumen Technologies. Lumen offers a range of services including fiber-optic connectivity, edge computing, and managed services, and has a significant focus on digital transformation and enterprise-level network infrastructure.
The Lumen headquarters building, originally the CenturyLink Center for Excellence at 100 CenturyLink Drive, was eventually donated by Lumen to the University of Louisiana Monroe and renamed the Clarke M. Williams Innovation Center.
