- U.S. fiber M&A is heating up and Ookla named seven potential deal targets for the next wave
- Small regional fiber providers still control roughly 40% of the U.S. fiber market
- The next wave of fiber consolidation would build on an already busy 2026 deal pipeline
The first half of 2026 has been abuzz with fiber deals, and it appears plenty more could be on the way. Allo Fiber, Gateway Fiber, LiveOak Fiber, Wire 3, Ripple Fiber, Intrepid Fiber and Ezee Fiber may find themselves as prime targets for the next round of deals, according to a new Ookla analysis.
AT&T and Verizon are two of the largest fiber providers in the country, but Ookla Lead Industry Analyst Mike Dano noted in a new report that roughly 40% of the U.S. fiber market is still served by hundreds of small providers. These providers – especially those that serve affluent markets, those that are the sole provider in the areas they serve and those with aggressive expansion plans – are ripe for the M&A picking, he wrote.
The seven companies named above match those ideal characteristics. Allo Fiber serves nearly 60 cities across Nebraska, Colorado, Arizona and Missouri. LiveOak offers service in Georgia, Florida and South Carolina, making it neighbors with Florida-focused Wire 3. Ripple Fiber serves parts of 10 states, while Ezee Fiber serves six states.
“To be clear, these are not the companies that will be acquired or will make acquisitions, but are simply ones that match a number of characteristics displayed by the companies typically involved in fiber transactions,” Dano wrote. He added that several factors, including insufficient scale, operational incompatibility, ownership structures and regulatory hurdles are all reasons why M&A might not work for these companies.
Fiber passings in the U.S. have steadily climbed over the past several years, with 11.8 million new passings added in 2025 and a total of 84.6 million unique homes marketed, according to data from the Fiber Broadband Association and RVA. Of those homes, 16% have more than one passing. If you count homes with more than one passing, the total passings figure jumps to 98.4 million.
AT&T and Verizon are two of the largest fiber providers in the country, but Dano noted that roughly 40% of the U.S. fiber market is still served by hundreds of small providers.
Any additional deals will build on a robust pipeline of those already executed in 2026.
To date, according to Fierce’s M&A tracker, T-Mobile bought stakes in GoNetspeed, Greenlight Networks and i3 Broadband. GFiber merged with Astound. TDS bought Granite State Communications. Great Plains Communications bought Fastwyre. Omni Fiber scooped up Citizens Fiber. And Ezee Fiber – yes, the one named as a potential target – itself acquired DayNet in February.
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