American-Arctic based fibre connectivity provider Quintillion is to be acquired by private investment firm, Grain Management, parent company, QSH Parent Holdco.
Founded in 2015, Quintillion built and operates a fibre-optic cable network that provides high-speed broadband services to communities in Northern Alaska.
Quintillion’s system currently has the capacity to deliver gigabit and terabit bandwidth services on a 1,200-mile subsea and 500-mile terrestrial fibre optic network. Grain’s investment is designed to accelerate the company’s growth and accelerate the pace of fibre broadband.
George Tronsrue III, Quintillion’s Chief Executive Officer comments: “As increasingly more people and businesses depend upon broadband services for school, work, and healthcare, too many Alaskans are still being left behind. Those who live in unserved and underserved communities deserve the same access to affordable broadband as their urban neighbours enjoy. Our partnership with Grain will expedite closing the digital divide and accelerate the pace with which we connect more Alaskans to each other and to the rest of the world. With this partnership, Quintillion will continue to work with our country’s defence agencies to enhance our national defence and security in this critical part of the globe.”
Chad Crank, Managing Director at Grain adds: “The Grain team is passionate about the globally transformative power of broadband technology and after years of following Quintillion we think this is a great fit for our investment strategy. We are excited to partner with management to accelerate the company’s growth while continuing to support the critical connectivity needs of communities in Alaska and beyond.”
