63,000 IG accounts banned after a horrific crime wave with devastating consequences

andreasc
-
0
63,000 IG accounts banned after a horrific crime wave with devastating consequences
[ad_1]

, Meta is also taking actions into its own hands. It’s not about self-harm though, but instead, Meta is trying to combat a horrific crime that can have devastating consequences.

Financial sextortion: over recent years, there’s been a growing trend of scammers (cybercriminals known as Yahoo Boys) who target people across the internet.

– Meta blog, July 24, 2024

That’s why Meta announced the “strategic network disruption” of two sets of accounts in Nigeria affiliated with Yahoo Boys and involved in financial sextortion scams.

Zuck’s conglomerate removed approximately 63,000 Instagram accounts in Nigeria that engaged in the horrible scam. This included a coordinated network of around 2,500 accounts linked to a group of about 20 individuals. These scammers primarily targeted adult men in the US, using fake accounts to conceal their identities.

The coordinated network of around 2,500 accounts was identified through new technical signals and in-depth investigations by expert teams. Most of these accounts had already been detected and disabled by enforcement systems, and the investigation facilitated the removal of the remaining accounts and enhanced the understanding of the techniques used to improve automated detection.

The investigation revealed that most of the scammers’ attempts were unsuccessful and primarily targeted adults, although some attempts targeted minors. What an appaling thing to do! These accounts were reported to the National Center for Missing and Exploited Children (NCMEC). Relevant information is also shared with other tech companies through the Tech Coalition’s Lantern program to enable broader action.

Applying lessons from dismantling terrorist groups and coordinated inauthentic behavior, the identification of this network helped uncover more accounts in Nigeria attempting similar sextortion scams, bringing the total to around 63,000 accounts removed.

I’m sure that each of the said 63,000 scam accounts has targeted more than one potential victim, so the total number of affected people could amount to some staggering figures. This is an epidemic that has to be dealt with.

Secondly, Meta removed approximately 7,200 assets, including 1,300 Facebook accounts, 200 Facebook Pages, and 5,700 Facebook Groups in Nigeria that provided tips for conducting scams. These efforts included selling scripts and guides for scamming and sharing links to photo collections for fake accounts.

Since this disruption, systems have been identifying and automatically blocking attempts by these groups to re-establish their activities. New tactics observed have been used to further improve the detection of accounts, Groups, and Pages engaging in such activities.

Meta aims to help people recognize and avoid these scams while making it difficult for the criminals to succeed. Teens under 16 (under 18 in certain countries) are defaulted into stricter message settings to prevent them from being messaged by anyone they are not connected to, and Safety Notices encourage them to be cautious.

Meta has developed new signals to identify accounts potentially engaging in sextortion and is taking steps to prevent these accounts from finding and interacting with teens. Additionally, an on-device nudity protection feature in Instagram DMs is being tested, which will blur images detected as containing nudity, encourage caution when sending sensitive images, and direct users to safety tips and resources, including NCMEC’s Take It Down platform.

The Take It Down platform is a service that is described as “a step you can take to help remove online nude, partially nude, or sexually explicit photos and videos taken before you were 18”.

Take It Down works by assigning a unique digital fingerprint, called a hash value, to nude, partially nude, or sexually explicit images or videos of people under the age of 18. Online platforms can use hash values to detect these images or videos on their services and remove this content. This all happens without the image or video ever leaving your device or anyone viewing it. Only the hash value will be provided to NCMEC.


[ad_2]
Source link

Ukraine Hackers Hit Major Russian banks with DDoS attacks

andreasc
-
0
Ukraine Hackers Hit Major Russian banks with DDoS attacks
[ad_1]

Several prominent Russian bank clients experienced issues with their mobile apps and websites. According to Downdetector, complaints began to surge around 09:30 Moscow time.

The affected banks included Gazprombank, Alfa-Bank, VTB, and Rosbank. By midday, Post Bank clients also reported problems. Users could not make payments or access their accounts, leading to widespread frustration.

Banks Acknowledge DDoS Attacks

VTB’s press service confirmed that some clients faced local restrictions due to a “high load on the infrastructure of Internet providers.” They emphasized that the banking sector was subjected to a DDoS attack orchestrated from abroad.

According to the Forbes reports, Alfa Bank’s press service reassured clients that the issues were temporary due to technical work, asserting that “everything will be up and running soon.” Gazprombank also acknowledged short-term difficulties with certain transactions.

Join our free webinar to learn about combating slow DDoS attacks, a major threat today.

Politically Motivated Cyber Attacks

The incidents on July 24 followed similar disruptions on July 23, affecting Raiffeisenbank, Rosbank, GPB, and Rosselkhozbank. Daniil Shcherbakov, Deputy CEO of Servicepipe, noted the similarity between the attacks on both days.

He explained that hackers scanned the infrastructure of the victims, identified vulnerable spots, and targeted them.

Shcherbakov highlighted that one credit institution attacked over 400 IP addresses simultaneously. He speculated that the attackers might target all major players in the financial market.

As banks reported a return to regular operation later in the day, the incidents underscore the increasing threat of politically motivated cyber attacks on critical financial infrastructure.

The situation remains fluid, and further developments are anticipated as authorities and financial institutions bolster their defenses against such threats.

Protect Your Business Emails From Spoofing, Phishing & BEC with AI-Powered Security | Free Demo


[ad_2]
Source link

Make your shots spotless with AI Object Remover

andreasc
-
0
Make your shots spotless with AI Object Remover
[ad_1]

Capturing flawless video footage without unwanted elements in the frame can be challenging and exhausting. It’s often impractical to repeatedly clear a shooting scene, and unexpected background distractions can easily ruin an otherwise perfect shot. Manual video editing to remove these unwanted elements can be tedious and time-consuming.

However, advancements in digital technology have made content creation increasingly accessible. While professional video editing software like Adobe Photoshop and After Effects offer powerful tools for video manipulation, they can be prohibitively expensive and have steep learning curves.

This is where Wondershare Filmora steps in as a more accessible alternative. Filmora offers a balance of powerful editing features, including AI-driven tools, at a more affordable price point. Its user-friendly interface makes it easier for creators of all skill levels to produce polished, professional-looking content without the complexity associated with more advanced editing suites.

By providing these capabilities, Filmora addresses the need for efficient, high-quality video editing tools that are both accessible and effective for a wide range of content creators.

Wondershare Filmora

Filmora AI Object Remover (2)

Wondershare Filmora has established itself as a leading video editing software, offering a user-friendly interface alongside advanced features at a competitive price point. This accessibility allows creators to focus on capturing content, knowing they can refine their footage later using Filmora’s tools.

Continuously evolving to meet user needs, Filmora has embraced advanced AI technology across many of its features. This integration provides users with real-time edit previews and the flexibility to undo changes instantly, enhancing the editing experience.

Addressing a common challenge in video production—unwanted background elements that detract from a video’s aesthetics—Filmora has recently introduced an AI-based Object Remover. This tool represents a significant advancement in the software’s capabilities.

This article will explore the functionality of the AI Object Remover and discuss its potential applications across various user groups, highlighting how this feature can enhance video production workflows for creators at all levels.

AI Object Remover

AI object remover by Filmora isn’t only for people who are professionals and seasoned experts. This toolkit by Filmora is as simple as it could be. For newbies who have just started doing videography, this tool is perfect for them. AI object remover has a very interactive and user-friendly interface. To use this feature of Filmora you need to follow the below steps that are a precise guideline of how to use this.

  • First of all, you need to get Filmora on your mobile, or Windows. Doesn’t matter if you have Android or IOS, FIlmora works fine on both devices.
  • When the software is launched, go to the interface and click on the tab labeled “Open new project”. Choose your clip from your device and get it to the timeline of the software.
  • Select the parts on your clip in which you want to remove objects. You can choose more than one object. Filmora gives you access to various tools like brush or lasso, for precise selection of the unwanted object. You can change the brush size according to your needs as well.
  • When all the unwanted objects are selected in the clip, go to the “effect tab” and click on AI object Remover. The remover will clean sweep the objects and replace the empty spaces with a suitable background that will accord to the surroundings.
  • Carefully preview your video and then export it to your device for further use.

You can use the numerous other features of Filmora to edit your video further. Filmora gives you access to all features. You can do color correction, add music, remove vocals, add stickers, and do so many fun things with your video with Filmora. Content creators use editing software to make engaging content. Filmora has options for preset templates, AI portraits, AI thumbnails, and auto-captions to help out users. Choose a package that suits you and get your hands on all these features. With just $9.99 to $49.99, you’ll be able to edit your video like a professional.

Users of AI Object Remover

The AI Object Remover tool caters to a variety of content creators looking to enhance their video production. Common users include:

  • Travelers: Adventure enthusiasts who love to capture their journeys can now easily remove unwanted passersby from their shots, preserving perfect views for a lifetime.
  • Event Videographers: Professionals covering events often struggle to frame only the relevant subjects. The Object Remover simplifies this process, allowing them to clean up their footage in post-production.
  • Commercial Video Makers: Filmmakers and business video producers can now create pristine footage without distracting elements, maintaining shot integrity and business customization. Filmora’s AI Object Remover ensures their final product meets professional standards.

This tool empowers these users to elevate their content creation, providing cleaner, more focused, and visually appealing results across various videography fields.

Conclusion

Filmora’s AI Object Remover is an invaluable tool for anyone aiming to create clean, professional-quality videos. This software enhances content without compromising video quality or causing undue complications. Whether you’re a seasoned videographer or just starting your career in this field, this feature can help you realize your creative vision quickly and effortlessly.

The need for reshoots to eliminate unwanted objects is now a thing of the past, thanks to Filmora. With just a few clicks, your video can be refined to achieve a professional look. The AI Object Remover streamlines the editing process, making it accessible to users of all skill levels.

This tool not only saves time but also opens up new creative possibilities, allowing editors to perfect their footage in post-production. By providing such a powerful yet user-friendly feature, Filmora is helping to democratize high-quality video production, enabling creators to focus more on their artistic vision and less on technical obstacles.


[ad_2]
Source link

Google tests picture-in-picture mode for Android users watching videos in the YouTube app

andreasc
-
0
Google tests picture-in-picture mode for Android users watching videos in the YouTube app
[ad_1]

Here’s the thing. Ironically, whether you’re a YouTube Premium subscriber or not, you cannot minimize a video in the YouTube app and be able to watch it in PiP mode. Instead, minimizing a video by pressing the small down arrow in the upper left corner while in portrait will create the minibar on the bottom of the screen. This is surely not the minibar you were hoping for (like the one in that hotel room you were in a few months ago). This minibar is at the bottom of the screen and shows a small thumbnail of the video running on the left side of the bar with the title of the video next and the video controls (play, stop, pause) on the right.

Red box shows you the minibar that is being replaced with PiP videos with the latest YouTube for Android update. | Image credit-PhoneArena - Google tests picture-in-picture mode for Android users watching videos in the YouTube app

Red box shows you the minibar that is being replaced with PiP videos with the latest YouTube for Android update. | Image credit-PhoneArena

In the U.S., Google is currently running a server-side upgrade rolling out now to some users with version 19.29.37 of the YouTube for Android app. Even if you are running this build on YouTube, you still have to hope that you are one of the lucky ones receiving the update. That’s because it isn’t isn’t clear whether we should expect all Android users to get this update for the Android YouTube app or if this is a typical Google A/B test.

“We’re currently testing an update that lets viewers move and resize the miniplayer while watching a video. This is available to a small group of users across mobile, tablet and web at this time.”-Google

For example, even though my Pixel 6 Pro, with Android 15 beta 4 installed, is running version 19.29.37 of the YouTube app, I am still getting the minibar when I minimize a video on YouTube. Once you get the update, minimizing a YouTube video while on the YouTube app will put that video into PiP mode instead of creating a minibar. Google did say in a statement that only a small number of mobile, tablet, and web users have this update right now.

[ad_2]
Source link

FCC investigating AT&T’s outage that blocked 25,000 calls to 911

andreasc
-
0
FCC investigating AT&T’s outage that blocked 25,000 calls to 911
[ad_1]

Earlier this year, a big AT&T outage left millions of customers incommunicado for hours. The situation not only prevented normal calls, but also emergency calls. Now, an FCC report reveals that AT&T’s outage blocked up to 25000 calls to 911 while it was active.

The report comes from the FCC Public Safety and Homeland Security Bureau. In total, the outage is said to have blocked more than 92 million calls in the US, including the 25000 calls to emergency numbers. The incident occurred in February and took many by surprise.

AT&T big February outage prevented up to 25,000 calls to 911

The report reveals that the outage was the product of multiple factors. However, the main one was the failed implementation of an improvement to AT&T’s network capacity. Sadly, there was an error in the equipment configuration during the process. The error triggered the “protect mode” on the carrier’s network, which resulted in the disconnection of many customers’ devices.

In the worst cases, affected users were without mobile network service for more than 12 hours. The outage impacted both the ability to make calls/send texts and the mobile data service. Correctly reconfiguring the affected AT&T’s network equipment took about 2 hours. However, all the devices that had been disconnected were trying to connect to the network again en masse. This was one of the causes of the outage being prolonged for many hours.

Failures in AT&T’s internal protocols prolonged the outage

In addition to the failed equipment configuration, the FCC report indicates that problems in following AT&T’s protocols influenced the prolongation of the outage that blocked 25000 calls to 911. For instance, the body mentions “a lack of adherence to AT&T Mobility’s internal procedures, a lack of peer review, a failure to adequately test after installation, inadequate laboratory testing, insufficient safeguards and controls to ensure approval of changes affecting the core network.” There are several more factors included in the report.

Currently, the FCC is investigating the situation to determine potential sanctions against the mobile carrier. The Public Safety and Homeland Security Bureau referred the incident to the FCC Enforcement Bureau. New developments are likely to emerge in the coming weeks. Taking into account the potential situations arising from blocking 911 calls for more than 12 hours, the penalties could be severe.


[ad_2]
Source link

Google Pixel Buds Pro 2 new design leaks in images

andreasc
-
0
Google Pixel Buds Pro 2 new design leaks in images
[ad_1]

In mid-2022, Google launched the Pixel Buds Pro as its most premium and capable TWS earbuds. Now, the company seems ready to launch its new generation a couple of years later. The Google Pixel Buds Pro 2 are on the way, and a new leak reveals in images what it will look like. A previous leak revealed the colors in which it will be available.

Like previous Galaxy Buds models, the Buds Pro opted for a stemless design. However, Google will not follow the South Korean giant’s path with the Galaxy Buds 3 series in terms of design. Instead, it will maintain the same form factor for its next-gen product. A 9to5Google leak includes a set of images that confirm the appearance of the Google Pixel Buds Pro 2.

This would be the Google Pixel Buds Pro 2 new design

The leak comes from Spigen, a case provider for phones and accessories. While looking for a Pixel Buds case on Amazon, a Redditor found a case product page for the still unannounced Buds Pro 2. The site also confirms the (expected) brand name of the earbuds, and the included images reveal that, although there will not be a stemmed design, there will be some changes.

For example, the touch zone of the headphones now seems bigger and wider. This will probably make touch gestures easier to use. Also, while the sound grills of the original Pixel Buds Pro were black in all versions, the Pixel Buds Pro 2 will match the color of the earbuds. The images show the product in a pink color that could be sold as “Raspberry” or “Peony.”

The charging case does not seem to have changed much, as it maintains its oval shape, and even the dimensions seem to be similar. However, it seems there is now a cutout designed to attach accessories like Find My Device trackers. Sadly, the leak does not include details about the earbuds’ specifications or features. This is normal, as it was taken from a case vendor. Let’s hope more details emerge soon.


[ad_2]
Source link

Samsung producing 1 million Galaxy Rings due to high demand

andreasc
-
0
Samsung producing 1 million Galaxy Rings due to high demand
[ad_1]

It seems that demand for the Galaxy Ring is exceeding Samsung’s expectations by a wide margin. Initially, the company set cautious projections, with relatively “limited” production. However, due to high public interest in the Galaxy Ring, Samsung is increasing production to one million units.

It seems that China is the market where the Galaxy Ring is generating the most interest. According to The Elec, Samsung had set an initial production of 400,000 units. After all, it is the first generation of the product, and it is not especially cheap, so the company would remain vigilant to the market reaction. If demand was as expected or a little lower, the company would maintain the same production rate. Otherwise, they would increase it.

Galaxy Ring demand exceeds Samsung’s initial expectations

However, there seems to be a lot of interest in the new device. According to the report, the initial demand is so high that Samsung has ordered the production of 600,000 additional Galaxy Ring units, reaching one million in total. This way, the company seeks to ensure that there are enough units available for all potential buyers. Apparently, the niche for smart rings is larger than expected. It is also possible that Samsung has made it grow, attracting fans of the brand’s products.

Samsung is not the first in the smart ring segment. Since 2017, Oura has been selling wearables in this format. However, since the launch of its first product, it has shipped a little over 1 million units. Therefore, if Samsung’s new expectations are met, sales would be close to those of Oura in its entire existence, which is impressive. The latest product from Samsung’s rival company in the segment is the Oura Ring 3, launched in 2017 for $299.

Leaks about the Oura Ring 4 suggest that it is already in development. We will have to wait to find out what it will offer to try to surpass Samsung’s smart ring in terms of people’s interest.


[ad_2]
Source link

Google TV, YouTube TV to offer Paris Olympics coverage with Gemini

andreasc
-
0
Google TV, YouTube TV to offer Paris Olympics coverage with Gemini
[ad_1]

Google is offering multiple ways to watch and enjoy the Paris Olympics on YouTube TV. The search giant has partnered with official broadcasters to offer live broadcasts on Google TV and its other digital platforms.

Live coverage of the Paris Olympics on Google Search and TV platforms

Several official broadcasters of the upcoming Paris Olympics 2024 will livestream the opening and closing ceremonies on their respective YouTube channels. Hence, Google has announced a partnership with the majority of these broadcasters to stream Olympic content on Google TV and YouTube TV.

There are 329 events spread across 19 days, with a total of 10,500 athletes competing in the Paris Olympics 2024. Hence, there would be a lot of searches and online queries about the event.

Google will offer the latest schedules, results, medal counts, top video highlights, and daily recaps. The search giant will also suggest the latest top stories and social media perspectives.

Google has hinted there would be new “Google Doodles” and Easter eggs on the search page. The company will also post “Most Searched Playground”, an interactive experience for its audience to quiz them about the Olympics.

Google TV will start displaying a new Olympics hub in the “For you” tab from July 26. It will curate streams and highlights of the Paris 2024 Olympic Games.

Gemini AI powering insights and 3D views of the Games

For the first time, Gemini is entering the world of live sports broadcasting and discussions about the Olympics. Google is working with the US Olympic team and NBCUniversal to bring AI-generated content to viewers.

Viewers can expect AI-powered features in Search, Google Maps, and Gemini dedicated to the Olympics. Additionally, certain broadcasts are expected to utilize Google Search’s “AI Overviews” feature to offer a snapshot of the events and results.

Google Maps Platform’s Photorealistic 3D Tiles will help Gemini and NBC’s commentators offer real-time insights in 3D. Google TV viewers should also get 3D views of Olympic venues in Paris using this technology.

Even the Google Play store for the Android OS ecosystem has been roped in. The app store will offer apps, games, and books related to the event. There’s a dedicated and official Olympics app too for staying updated about the Games.


[ad_2]
Source link

Cybersecurity Firm KnowBe4 Tricked into Hiring North Korean Hacker as IT Pro

andreasc
-
0
Cybersecurity Firm KnowBe4 Tricked into Hiring North Korean Hacker as IT Pro
[ad_1]

Cybersecurity firm KnowBe4 was tricked by a North Korean hacker posing as an IT worker whose next step was to load malware on a company-issued Macbook. Learn how the hacker bypassed security measures and what steps businesses can take to protect themselves from similar attacks.

Cybersecurity firm KnowBe4 revealed today that it was successfully targeted by a sophisticated phishing scheme orchestrated by a North Korean hacker posing as a legitimate IT worker. The attacker, who managed to pass KnowBe4’s rigorous hiring process, was ultimately identified and stopped before any data was compromised.

The incident began when KnowBe4 hired a remote software engineer who cleared multiple rounds of interviews and background checks. Upon receiving a company-issued Mac, the device immediately began loading malware, triggering KnowBe4’s onboard security software.

An investigation, conducted in collaboration with the FBI and cybersecurity firm Mandiant, uncovered the shocking truth: the hired engineer was a North Korean national using a stolen US identity. The attacker’s profile picture was a convincing AI-generated image, further masking their true identity.

“This was a real person using a valid but stolen US-based identity,” wrote KnowBe4’s Chief Executive Officer & President Stu Sjouwerman. “The picture was AI ‘enhanced’.”

Cybersecurity Firm KnowBe4 Tricked into Hiring North Korean Hacker as IT Pro
Image provided by Knowbe4

The attacker’s tactics involved manipulating session history files, transferring potentially harmful files, and executing unauthorized software. They used a Raspberry Pi to download the malware and attempted to disguise their activity as routine troubleshooting.

KnowBe4’s security team quickly contained the threat, preventing any further damage. The incident highlights the growing sophistication of state-sponsored cyberattacks and the need for robust security measures.

Experts warn that North Korean operatives are increasingly targeting Western companies, exploiting remote work trends and using sophisticated methods to bypass traditional security protocols.

“This incident reveals how state-sponsored attackers are evolving to create convincing fake identities,” said Stephen Kowski, Field CTO at SlashNext Email Security+. “It’s clear we need to rethink our approach to security.”

Callie Guenther, Senior Manager, Cyber Threat Research at Critical Start, added, “Companies can identify potential threats by scrutinizing resumes, verifying identities, and monitoring for unusual behaviour.”

You’ve Been Warned!

In May 2022, the US government warned organizations to beware of North Korean hackers in the guise of IT freelancers claiming to be non-DPRK (Democratic People’s Republic of Korea) nationals.

According to the advisory issued by the United States State and Treasury Departments and the Federal Bureau of Investigation (FBI), highly skilled mobile app and software developers from North Korea were trying to get employed by posing as IT freelancers. The advisory stated that the purpose behind this fraudulent activity was to pave the way for cyber intrusions from the North Korean government.

US Warns Firms About North Korean Hackers Posing as IT Workers

Protecting Your Organization: 10 Key Takeaways for HR Managers

Here are 10 points for HR managers to protect themselves from fake employee scenarios and what to do if they’ve been compromised:

Prevention:

  • Rigorous Vetting: Implement multi-layered background checks that go beyond basic criminal records. Utilize third-party services specializing in identity verification and social media analysis.
  • Video Interviews: Conduct video interviews for all candidates, especially remote positions. Pay close attention to inconsistencies between the candidate’s appearance and their online presence.
  • Reference Checks: Verify references thoroughly, going beyond confirming employment dates. Speak to previous supervisors and colleagues to gain a deeper understanding of the candidate’s work ethic and character.
  • Behavioural Assessments: Incorporate behavioural assessments into the hiring process to evaluate a candidate’s personality traits, work style, and potential for deception.
  • Red Flag Awareness: Train hiring managers to recognize red flags such as inconsistencies in resumes, evasive answers during interviews, and overly eager or insistent candidates.
  • Cybersecurity training: Make cybersecurity training a must in your organisation. Any employee with access to the company’s data or electronic device must be trained in identifying phishing scams, social engineering tactics and identifying fake profiles.

Response:

  • Immediate Containment: If suspicious activity is detected, immediately isolate the affected user account and restrict access to sensitive systems.
  • Forensic Investigation: Engage a cybersecurity firm to conduct a thorough forensic investigation to determine the extent of the breach and identify the attacker’s methods.
  • Law Enforcement Notification: Report the incident to the FBI and other relevant law enforcement agencies.
  • Data Breach Response Plan: Have a comprehensive data breach response plan in place to guide actions in the event of a security incident.
  • Employee Communication: Communicate transparently with employees about the incident, outlining the steps taken to mitigate the risk and protect their data.

Remember, common sense and a multi-layered approach are vital for protecting your organization from such sophisticated cyberattacks.

  1. Feds Bust N. Korean Identity Theft Ring Targeting US Firms
  2. Hackers used fake job website to scam jobless US veterans
  3. Fake LinkedIn job offers scam spreading More_eggs backdoor
  4. Fake GitHub Repos Caught Dropping Malware as PoCs AGAIN!
  5. Employee Duped by AI-Generated CFO in $25.6M Deepfake Scam
  6. Fake PoC Script Tricked Researchers into Downloading VenomRAT

[ad_2]
Source link

T-Mobile to expand home broadband via Metronet acquisition with KKR

andreasc
-
0
T-Mobile to expand home broadband via Metronet acquisition with KKR
[ad_1]

T-Mobile has formed a JV with investment firm KKR for the acquisition of Metronet. The acquisition adds a capable Internet Service Provider to T-Mobile’s portfolio of businesses and operations.

T-Mobile signs JV to buy growing Fiber ISP

America’s fastest growing 5G network provider T-Mobile has been making serious in-roads in the fixed wireless broadband provider business. The telecom and broadband internet service provider has officially acknowledged a Joint Venture (JV) with global investment firm KKR to acquire Metronet.

Specifically speaking, T-Mobile will acquire Metronet and all its broadband infrastructure. If or when the deal gets approval, T-Mobile will pay $4.9 billion to own 100% of Metronet’s residential fiber operations.

Metronet is a rapidly growing residential fiber ISP (Internet Service Provider). As part of the deal, all of Metronet’s existing customers will automatically become a part of T-Mobile’s 120 million subscribers.

Speaking about the acquisition, Mike Sievert, CEO of T-Mobile said, “Metronet is the perfect partner for T-Mobile as a leader in fiber solutions with an incredibly fast build pace, and a top-notch management team.”

Metronet becoming a part of T-Mobile will help the latter, “further expand the Un-carrier’s fiber footprint and deliver real value and choice to customers while addressing a growing demand for fast and reliable broadband,” added Sievert.

T-Mobile’s Metronet acquisition with KKR to help boost home internet services

The rapidly increasing 5G coverage offers high-speed wireless coverage. However, 5G is also optimized to offer fixed wireless internet to homes and offices.

T-Mobile has a growing presence in the increasingly popular “Home Internet” space. The telecom service provider currently has more than 5 million households and businesses as its subscribers. The company relies on Un-carrier’s 5G network and the company’s previously announced fiber partnerships.

T-Mobile currently operates on the “fallow-capacity model” with Un-carrier. Simply put, the telecom company relies on spectrum that is sitting unused.

Acquiring Metronet with KKR will reportedly boost T-Mobile’s presence in the “Home Fiber” or FTTH (Fiber to the Home) business. Metronet currently services over two million accounts across 17 states. It would be interesting to see how T-Mobile will leverage Metronet’s “100% fiber network [that] delivers symmetrical multi-gigabit internet service directly to homes and businesses.”


[ad_2]
Source link
1...272829...1,474Page 28 of 1,474