Google Fiber will acquire Webpass. Both companies has confirmed the merger. The deal is expected to close this summer after regulatory approval. Neither Google Fiber nor Webpass has provided any statement regarding the transaction.
President of Webpass Charles Barr has written in the blog, ?By joining forces, we can accelerate the deployment of superfast Internet connections for customers across the U.S. Webpass will remain focused on rapid deployment of high speed Internet connections for residential and commercial buildings, primarily using point to point wireless. The transaction is expected to close this summer, subject to customary closing conditions, including regulatory approvals.?
However, there are indications that Webpass will keep some shares of the company. Webpass is considering it as a development of the company.
?Joining Google Fiber will be a great development for our users because the companies share the same vision of the future and commitment to the customer. Google Fiber?s resources will enable Webpass to grow faster and reach many more customers than we could as a standalone company,? Barr added.
Google Fiber is providing broadband and cable television services in Atlanta, Austin, Kansas City, Nashville and Provo. Back in the February, Director of Business Operations, Michael Slinger wrote in a blog that Google Fiber is planning to launch its services in San Francisco, Salt Lake City, San Antonio, Huntsville, Nashville, Tennessee, and Charlotte and Raleigh-Durham.
This merger will help Google Fiber to expand its services as Webpass is already operating in San Francisco Bay Area, San Diego, Chicago, Boston, and Miami. Webpass has around 10,000 customers.
According to The Register, this will help Google to expand its network where the company has not laid the cables yet. However, a large part is covered by wireless network there. Google will have to make little upfront investment.
Overall, this deal is expected to be beneficial for Google, Webpass and the customers connected with both of the companies.
Stay tuned to the Bitbag for more updates!