T-Mobile and investment firm KKR have finalized their JV acquisition of fiber-to-the-home provider Metronet.

The deal, which closed yesterday (July 24), came a year to the day after the JV was first announced by the two companies.

As part of the deal, the JV has scooped up Metronet's broadband infrastructure, its fiber business operations, and existing customers.

Metronet provides multi-gigabit Internet service in more than 300 communities in 19 states, with more communities added each month.

To date, more than 2.6 million homes and businesses have access to Metronet fiber, which covers more than 42,000 miles. By 2030, the ISP is aiming to reach 6.5 million homes.

Metronet will now become a wholesale ISP, with T-Mobile Fiber as its partner for residential service.

The company will continue to build new fiber-optic network infrastructure, maintain its existing network, and install service for new customers. Under the JV, Metronet has retained its commercial-services business.

“Fiber is the connective tissue of the modern economy—from tele‑health and remote learning to AI‑powered enterprises,” said Waldemar Szlezak, partner and global head of digital infrastructure at KKR. "By combining Metronet’s leading build engine with T‑Mobile’s national reach, we can accelerate world‑class connectivity to millions of underserved homes and businesses.”

For T-Mobile, the acquisition is part of the company's fiber strategy, which has already seen it acquire fiber provider Lumos earlier this year.

So far, T-Mobile has launched its fiber services to 32 US markets across eight states. The carrier said that through strategic fiber partnerships and JV's, it will reach 12 to 15 million households with fiber by the end of 2030.