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Brookfield to buy internet provider Hotwire in about $7 billion deal, sources say
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Brookfield to buy internet provider Hotwire in about $7 billion deal, sources say
Jun 13, 2025 11:15 AM

June 13 (Reuters) - Brookfield Infrastructure Partners ( BIP/PA )

has struck a deal to buy internet service provider

Hotwire Communications, valuing the company at around $7

billion, including debt, people familiar with the matter said on

Friday.

Hotwire is being acquired from current owner Blackstone

, which holds the investment across both its

Infrastructure Partners and Tactical Opportunities arms.

The people spoke on condition of anonymity to discuss

confidential information ahead of a formal announcement, which

was expected shortly, per one of the sources.

Blackstone and Brookfield both declined comment.

The Wall Street Journal first reported the news, citing

people familiar with the matter.

Co-founded in 2000 by Michael Karp and Kristin Johnson,

Hotwire provides fiber network internet service to consumers,

with a focus on commercial and community-living customers,

according to its website.

Blackstone bought the company in 2021 for an undisclosed

amount, and helped grow the business, including expanding its

operations from its original four-state footprint in the U.S.

Southeast. Hotwire now offers internet in nine states, including

Texas, California and Pennsylvania.

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