Brookfield Infrastructure Partners L.P. (NYSE:BIP) has struck a deal to buy internet service provider Hotwire Communications, LLC, valuing the company at around $7 billion, including debt, people familiar with the matter said on June 13, 2025. Hotwire is being acquired from current owner Blackstone Inc. (NYSE:BX), which holds the investment across both its Infrastructure Partners and Tactical Opportunities arms. The people spoke on condition of anonymity to discuss confidential information ahead of a formal announcement, which was expected shortly, per one of the sources. Blackstone and Brookfield both declined comment.
The Wall Street Journal first reported the news, citing people familiar with the matter. Blackstone bought the company in 2021 for an undisclosed amount, and helped grow the business, including expanding its operations from its original four-state footprint in the U.S. Southeast.
