AT&T announced on Wednesday it was acquiring virtually all of Lumen’s mass markets fiber business, in a $5.75 billion all-cash transaction that will help the telecom giant extend its reach to 60 million locations.

AT&T has agreed to acquire substantially all of Lumen’s residential fiber broadband network for about $5.75 billion in an all-cash deal. Lumen’s Mass Markets fiber business includes about one million fiber customers,

The US broadband market is rapidly consolidating, leaving fewer choices as six of the top 10 internet providers were involved in recent acquisitions.