Quintillion, a U.S. provider of Arctic fiber connectivity, will be acquired by QSH Parent Holdco, the parent company of private investment firm Grain Management.
Founded in 2015, Quintillion builds and operates a fiber optic network that provides high-speed broadband services to communities in northern Alaska. It currently has the capacity to provide gigabit and terabit bandwidth services over 1,200 miles of submarine and 500 miles of terrestrial fiber optic networks. Grain's investment is designed to accelerate the company's growth and accelerate the pace of fiber optic broadband.
As more and more people and businesses rely on broadband services for school, work and healthcare, there are still too many Alaskans left behind," said George Tronsrue IIIb, CEO. Those who live in unserved and underserved communities deserve access to affordable broadband just as much as their urban neighbors. Our partnership with Grain will accelerate the closing of the digital divide and accelerate our efforts to connect more Alaskans to each other and to the rest of the world. Through this partnership, Quintillion will continue to work with our nation's defense agencies to strengthen our defense and security in this critical region of the globe."
Chad Crank, Managing Director of Grain, added, "The Grain team is passionate about the transformative global power of broadband technology and after years of following Quintillion, we believe it is a great fit for our investment strategy. We are excited to work with management to accelerate the company's growth while continuing to support the critical connectivity needs of communities in Alaska and beyond."
