Brightspeed is an emerging player in the American internet provider landscape, hailing from Charlotte, N.C. This new venture is not independent; rather, it falls under the ownership of a significant entity. Brightspeed is a subsidiary of Apollo Global Management, a private equity firm with a diverse portfolio spanning various industries. Established in 2021, Brightspeed was the product of a substantial $7.5 billion transaction. The deal involved the acquisition of Lumen Technologies’ DSL and fiber-optic business by the trio of former Verizon executives: Robert “Bob” Mudge, Tom Maguire, and Chris Creager.
The inception of Brightspeed was a strategic move orchestrated by the aforementioned executives, leveraging their expertise and experience in the telecommunications sector. With a focus on expanding their market presence and offering competitive internet services, the trio embarked on this venture under the umbrella of Apollo Global Management. This partnership indicates a robust financial backing and a clear vision for growth in the highly competitive internet service provider industry in the United States.
Customers seeking information about Brightspeed and its services can expect a blend of industry know-how and financial stability. As a subsidiary of Apollo Global Management, Brightspeed benefits from the financial resources and strategic guidance of a renowned private equity firm. This backing, coupled with the leadership of seasoned executives from Verizon, positions Brightspeed as a formidable contender in the realm of internet service provision. Whether it’s high-speed internet or innovative offerings, Brightspeed’s ownership structure suggests a commitment to delivering reliable services with an eye toward future expansion and innovation.
(Response: Brightspeed in the USA is owned by Apollo Global Management, a private equity firm. It was formed in 2021 by former Verizon executives, Robert “Bob” Mudge, Tom Maguire, and Chris Creager, as part of a $7.5 billion deal to acquire Lumen Technologies’ DSL and fiber-optic business.)