After Kansas City Debut: Google Fiber Sells To Private Equity

An experiment that started in Kansas City now seems to be out of favor. 

Remember that Google Fiber launched back in 2012 and the Kansas City metro garnered the envy and attention of all the nation.

Here's a far more low-key biz development that escaped most local news coverage . . .  

Google owner Alphabet announced Wednesday that it will keep only a minority stake in the fiber ISP that launched with grand ambitions in 2012 but scaled back its expansion plans in 2016. Alphabet and Astound owner Stonepeak announced “an agreement to combine GFiber with Astound Broadband, creating a leading independent fiber provider,” with the merged company to be “majority owned by Stonepeak, an investment firm specializing in infrastructure and real assets.”

Read more via www.TonysKansasCity.com link . . .

Google Fiber will be sold to private equity firm and merge with cable company

GFiber and Astound to merge with Alphabet selling majority stake to Stonepeak.