Brightstar Network, the nation’s leading provider of network infrastructure, has announced a major investment in its network infrastructure in a bid to boost its profitability and improve its overall competitiveness.
Brightstar said in a statement Monday that it will build two new “digital clusters” for its network in the Dallas-Fort Worth metro area and San Antonio-Houston area, with the goal of doubling its revenue in each of the next three years.
It will also acquire the satellite service Brightstar Xtreme for $200 million in cash and stock, and will build a new data center for its cloud platform, according to the statement.
The investment will increase Brightstar’s revenue from $5.2 billion in 2015 to $8.5 billion in 2019, it said.
In the U.S., Brightstar was the largest broadband provider in 2016, with 1.6 million broadband customers.
It also has a strong presence in Latin America, with more than 1 million subscribers in the region.
The news comes just days after it reported its fourth-quarter earnings and revenue were up more than 5% to $1.09 billion.
The company reported a loss of $0.47 billion, or $0,868 per share, in the third quarter.
That was well below Wall Street expectations, which had been $0 in revenue and $1 per share.
Brightstar said it would need to cut costs by $400 million to $400.5 million by the end of 2019 to stay competitive with rivals.