The transaction is expected to complete early next year, subject to regulatory approvals and the usual closing conditions.
The company said the assets sold would have brought in revenues of USD 13.7 million and adjusted EBITDA of USD 13.2 million to its full year 2017 results. Wow! said some of the proceeds from the sale will go towards paying down debt.
Verizon said the acquisition was in line with its strategy to invest in multi-use fibre in anticipation of smart cities and 5G, and comes after agreements with Corning, Prysmian and Straight Path. Hans Vestberg, Verizon president of Network and Technology, added that the deal will also help the company create comprehensive digital solutions for small- and medium-business and enterprise customers.
