Open Fiber Revenue, Valuation, Funding & Investors

TIM, which is 67%-owned by Telecom Italia, is the third largest wireless carrier in Brazil, with 62 million subscribers, equal to about 23% of the market. The firm owns 49% of I-Systems, an infrastructure partnership that is expanding its network footprint across Brazil. I-Systems can provide broadband service to about 8 million locations, including 6.5 million with fiber, equal to 10%-15% of the country. TIM leases capacity on the venture's network to serve retail broadband customers under the UltraFibra brand, but it has agreed to buy out its joint venture partner in 2026, taking full ownership of these assets. TIM also resells fiber network access from other providers.

DriveNets is a Ra'anana, Israel-headquartered networking company that builds carrier and AI networking infrastructure on standard white-box hardware. Its Network Cloud software disaggregates traditional routers into cloud-native software running on merchant-silicon boxes, and its Ethernet-based AI Fabric connects GPU clusters for back-end, compute and storage networks. Customers include telecom operators such as AT&T, Comcast and KDDI as well as hyperscalers, neoclouds and enterprises building AI data centres; the company has about 100 customers and around 500 employees with offices in Israel, the USA, Japan and Romania. DriveNets sells software and systems under multi-year contracts and said in 2026 that it had more than USD 1 billion of secured business and had been cash-flow positive since 2025. It has raised about USD 1 billion, most recently a USD 410 million round in June 2026 at a reported USD 8.5 billion valuation, and AT&T bought roughly a 15% stake from existing shareholders in 2025. DriveNets was founded in 2015 by Ido Susan, its chief executive, and Hillel Kobrinsky.

KT is South Korea's largest fixed-line telecom operator, with around 11.5 million fixed-line broadband customers and 9.5 million IPTV customers, and is the second-largest wireless operator with 28 million subscribers. Additionally, it has a number of nontelecom businesses, including real estate, payment processing, artificial intelligence, and IDC/cloud services, many of which are the focus of its growth strategy. The company was formed from the previously government-owned, monopoly telecom business and was listed in 1998. After selling its mobile business in 1994 (forming its mobile competitor, SK Telecom), KT created its own mobile operator in 1997.

PT Indoritel Makmur Internasional Tbk is an investment holding company. The company, through its subsidiaries, is engaged in providing infrastructure through fiber optic media and serving telecommunication services ranging from data communication to interactive video, managing SDWAN services, and a variety of other Internet of Things (IoT) derivatives. Its segments are the Corporate segment, the Retail segment, and Others. It generates the majority of revenue from the Corporate segment. The Corporate Business Segment provides fiber-optic-based telecommunications data connection service products for business customers, such as Last Mile Solution, Fiberization, IP Transit, IEPL, MPLS, and DWDM, to other telecommunications operators and international customers.

INWIT is an Italian tower and wireless infrastructure company that builds and manages shared digital infrastructure used by mobile operators. It was founded in 2015 as a spin-off from TIM and merged with the tower business of Vodafone Italy in March 2020, after which it entered the FTSE MIB index. The company is listed on Euronext Milan and is headquartered in Milan. Its assets include towers, small cells, distributed antenna systems for indoor coverage and Wi-Fi and IoT solutions, offered under a tower-as-a-service model. In 2025 INWIT reported consolidated revenues of 1,077.2 million euros and EBITDA of 984.4 million euros, and it guides to revenues of 1,050 to 1,090 million euros for 2026. Its largest shareholders include Central Tower Holding, which holds 37.6% of the share capital, and an investment vehicle of Ardian.

Dycom Industries Inc is a provider of specialty contracting services to the telecommunications infrastructure and utility industries throughout the United States. Its operating companies supply telecommunications providers with a comprehensive portfolio of specialty services, including program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services and provide underground facility locating services for various utilities, including telecommunications providers, and others. It also provides a range of construction, maintenance, and installation services, including the placement and splicing of fiber, copper, and coaxial cables. It provides services throughout the United States.

Rogers' wireless backhaul subsidiary is a newly established Canadian infrastructure company that owns a portion of Rogers Communications' wireless backhaul transport network. Backhaul infrastructure carries mobile traffic from radio access sites into the operator's core network and is essential to high-capacity wireless service. Rogers formed the subsidiary for a C$7 billion equity capitalization led by Blackstone Credit & Insurance and Canadian institutional investors. The investor group acquired a non-controlling interest, while Rogers retained control and continued to use the infrastructure in its telecommunications operations. The company is an operating infrastructure issuer rather than a fund or a real-estate vehicle. Its economic activity is tied to providing network transport capacity and associated infrastructure services. Public completion releases did not disclose a legal name, standalone website or investor-by-investor capital split, so those fields remain deliberately unasserted.

Indus Towers Ltd Ltd is a telecommunications tower infrastructure service provider. The company deploys, owns, and manages telecom towers and communication structures for mobile operators. The company acquires and builds towers, while also owning and operating telecom towers and related infrastructure. The company generates revenue through a rental fee to tenants of mobile towers. Energy costs such as electricity and fuel charts are usually passed through to tenants. The company generates the vast majority of its revenue in India. The company's assets are located in India and are often ground-based and rooftop towers.

Bersama Digital Infrastructure is a digital infrastructure holding company incorporated in Singapore as Bersama Digital Infrastructure Asia Pte. Ltd. It is controlled by the Indonesian groups Provident Capital and PT Saratoga Investama Sedaya Tbk. The platform owns the controlling stake in PT Tower Bersama Infrastructure Tbk, an Indonesia-listed independent telecommunications tower company. It is also the vehicle through which its owners pursue investments in towers, fibre and data centres across Southeast Asia, including a majority stake in the Philippine tower company Alliance Towers. Revenue comes from tower leasing to mobile operators through its operating subsidiaries. A Macquarie Asset Management-led consortium holds a minority stake alongside the two founding shareholders.

ICEYE is a Polish/Finland-headquartered satellite operator managing the largest synthetic aperture radar constellation for Earth observation. Its smallsats deliver all-weather radar imagery for flood detection, insurance damage assessment, oil spill monitoring, and ship tracking. Clients in government, reinsurance, and defense sectors task satellites for data capture within hours. Founded in 2014, ICEYE builds and launches radar spacecraft from sites in Finland and the United States.

FirstEnergy Transmission is an Akron-based holding company for interstate transmission assets under FirstEnergy Corp. It owns American Transmission Systems, Mid-Atlantic Interstate Transmission, and Trans-Allegheny Interstate Line, operating 24,000 miles of high-voltage lines. The unit delivers 30,000 MW capacity across PJM and MISO markets in 10 states.

Fiberhome Telecommunication Technologies Co Ltd is a China-based company engaged in the manufacture and sales of communication equipment. Its main products include communication system equipment, optical fibers, cables and data networking products, such as the optical networking products, Internet protocol (IP) data products, broadband access products, optical fibers and cable products, wireless communication products and power supplies, as well as the optoelectronic devices. The company mainly distributes its products in domestic and overseas markets.

Glarun Technology Co Ltd is involved in fields associated with electronic information technology from high starting points and focuses on the growth and development in aspects of traffic electronics, supply chain integration service, microwave and communication, software and information service, energy electronics and other relevant industries. Its business fields include Rail transit; Air traffic; Intelligent transportation and Maritime traffic.

MasTec is a leading infrastructure construction company operating mainly in North America across a range of industries. Its primary activities include engineering, building, installing, maintaining, and upgrading communications, oil and gas, utility, renewable energy, and other infrastructure. MasTec reports its results under five segments: communications; clean energy and infrastructure; pipeline infrastructure; power delivery; and other.

Hengtong Optic-Electric Co Ltd provides fiber optic communication products in China and internationally. It offers optical rods, optical fiber, optical cable, optical devices, an optical network, ocean optical network products, data communication products, power transmission products, ocean engineering, quantum security communications, rail transit, and smart city products.

Sterlite Technologies Ltd is an Indian-based company engaged in the business of Connectivity and Network Solutions. Its products and solutions mainly include integrated optical fiber, copper telecom cables, structured data cables, access equipment, fiber connectivity and system integration solution offerings for telecom networks, OSS/ BSS solutions, billing and bandwidth management solutions for organizations, and others. Its segments include Optical networking business (ONB), Global service business (GSB) and Digital and technology solutions (Digital). The company offers its services within India and in the International market. It earns majority of the revenue from Optical networking business segment.

Amplitel is Australia's largest mobile tower infrastructure provider, created in June 2021 when Telstra completed the sale of a 49 per cent non-controlling interest in its InfraCo Towers business to a consortium of the Future Fund, Sunsuper and Commonwealth Superannuation Corporation managed by Morrison and Co. The Telstra InfraCo Towers entity was renamed Amplitel Pty Ltd on completion. It owns an asset portfolio of more than 8,000 physical towers, masts, large poles and antenna mounts and provides space on them to mobile carriers, government and public and private organisations across Australia. Telstra kept 51 per cent ownership and the active parts of its network, including the radio access network and spectrum, and agreed to return about half of the net proceeds from the sale to shareholders through a buy-back. Telstra's chief executive noted that the towers business has foundations more than 100 years old.

Digital InfraCo is a Singtel-led joint venture developing digital infrastructure across Asia, Europe, and the US. The consortium focuses on subsea cables, data centers, and 5G networks, with initial projects including the Echo and SeaMeWe 6 cable systems linking Singapore to Europe. Digital InfraCo partners with CDPQ Infra and Gulf Investment Corporation to invest tens of billions in high-capacity connectivity.