Crown Castle agreed to sell its fiber segment for $8.5 billion following a more than year-long strategic review of the business. The communications infrastructure owner and operator said Thursday it plans to sell the small cells part of the business to EQT Active Core Infrastructure,

Telecommunications company Crown Castle Inc. has reached an agreement with an EQT AB fund and Zayo Group Holdings Inc. for each to buy separate parts of its fiber business for a combined value of $8.5 billion.

Crown Castle has announced an agreement has been reached to sell its fiber assets for a combined $8.5 billion. The company has agreed to sell its fiber assets to Zayo Group, while EQT Active Core Infrastructure will buy its small cell assets.