BCE has announced that Bell Canada will acquire Ziply Fiber, a fibre Internet provider in the Pacific Northwest of the U.S., for $5 billion CAD in cash and the assumption of paying off any outstanding net debt, which is about $2 billion. This means we’re looking at a transaction of around $7 billion.

This will give Bell a foothold in the U.S. fibre market and increase its scale.

According to the press release, Ziply Fiber’s network technology and innovation has expanded its footprint with more than 1.3 million fibre locations across four U.S. states and has plans to reach more than three million locations in the next four years. The acquisition will reinforce Bell’s position as the third-largest fibre Internet provider in the U.S., with more than nine million fibre locations. Bell will be able to expand its fibre footprint to more than 12 million locations in North America by 2028.

The press release continues by noting that Bell and Ziply Fiber will be able to offer a better experience for existing and new customers in both Canada and the U.S. as the demand for faster and more reliable Internet and data services increases.

Bell cut several jobs earlier this year. It closed The Source HQ and 107 The Source retail stores, along with the company’s back office operations, removing 4,800 jobs in total. And just in October, Bell laid off 18 percent of Expertech’s workforce, cutting about 120 positions across Ontario and Quebec.

You can learn more about the BCE/Ziply Fiber acquisition here.