AT&T announced on Monday that it has reached a $1 billion multi-year agreement with Corning to purchase fibre, cable, and connection solutions, as the US telecom giant seeks to extend its high-speed internet offerings.
John Stankey, CEO of AT&T while disclosing the new $1 billion fiber deal in a press release said that AT&T has been a Corning customer for several decades.
Corning bills itself as one of the world’s leading innovators in materials science, with a 170-year track record of life-changing inventions.
The company claims it applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people’s lives.
According to the statement, the multi-year purchase agreement with Corning Incorporated will supply next-generation fibre, cable, and connectivity technologies to enable AT&T to expand its fibre network and bring high-speed internet to more Americans.
“We’ve built the nation’s fastest broadband network,” said Stankey. “This new multi-year agreement with Corning helps us to connect more households, communities, and businesses with the high-speed, reliable internet they need to thrive in a digital world.”
AT&T, which offers the greatest fixed broadband package, is extending its network through organic investment, a joint venture with BlackRock called Gigapower, and numerous recently announced commercial open-access agreements.
AT&T has reported its fifth consecutive quarter of broadband subscriber growth, reaching 28.3 million consumer and corporate locations and being on track to surpass 30 million by the end of 2025.
“As data and bandwidth requirements continue to grow, Corning is committed to the work of ensuring all Americans have access to reliable, high-speed fibre connections,” said Wendell P. Weeks, chairman and CEO, of Corning Incorporated. “By extending our longtime relationship with AT&T, we’re helping bring the transformational benefits of fiber to more people and communities.
“We share a fundamental belief that the more people you connect, the more value you create. And optical fiber is bringing people together at an unprecedented scale.”
We earlier reported that In a significant move to enhance digital connectivity in Nigeria, the Nigerian government has signed a memorandum of understanding (MoU) with telecom equipment vendor Ericsson.
