Verizon buying Frontier to strengthen its fiber network [Video]

NEW YORK — Verizon is buying Frontier Communications in a $20 billion deal to strengthen its fiber network.

Verizon Communications Inc. said Thursday that the transaction will also help it in the areas of artificial intelligence and the Internet of Things.

Frontier has concentrated heavily on its fiber network capabilities over about four years, investing $4.1 billion upgrading and expanding its fiber network. It now gets more than half of its revenue from fiber products.

The price tag for Frontier, based in Dallas, is sizeable given its 2.2 million fiber subscribers across 25 states. Verizon has approximately 7.4 million Fios connections in nine states and Washington, D.C.

Frontier has 7.2 million fiber locations and has planst to build out an additional 2.8 million fiber locations by the end of 2026.

“The …