Fiber box manufacturer FiberBox is buying SpandEX Fiber Manufacturing Co. for $8.4 billion.
The deal is the latest in a series of deals FiberBox has struck in recent years, including a $3.5 billion acquisition of SpandEx in 2018.
FiberBox CEO Joe Bailen said the acquisition will create the nation’s largest fiber provider.
The company also plans to use SpandECO to make the fiber network for the company’s new home Internet service.
“SpandECE will be used to make fiber products for our customers and build fiber networks for the state and local government,” Bailens said.
“It’s the best solution to create a global, nationwide fiber network.”
The deal was approved on Wednesday.
The FiberBox team was founded in 1998.
In the last two years, it has grown to more than 200 employees, Bailons company said.
SpandX fiber and spandex production has grown rapidly, and it has been making fiber box for over a decade, according to the company.
Fiberbox has an annual revenue of $1.3 billion and employs nearly 800 people, according the company website.
The new acquisition will provide fiber to consumers across the country.
Spend more, Bailson said.
The acquisition comes as the U.S. Department of Agriculture has launched an aggressive program to expand access to fiber to rural communities.
Spare parts for fiber box companies are available online and in warehouses, and the federal government is developing a program to help build the nations next generation of fiber.