AT&T and BlackRock have signed a definitive agreement to form a joint venture that will operate a commercial fiber platform. The newly formed joint venture called Gigapower, is expected to provide a fiber network to internet service providers (ISPs) and businesses across the United States.

Following close, AT&T and BlackRock will jointly own and govern Gigapower, according to the companies.

This transaction is subject to customary closing conditions, including regulatory approvals. Additional terms were not disclosed.

[Image courtesy: AT&T]