GCI to acquire Quintillion for $310M enterprise value

GCI Holdings and Grain Management announced that they have entered into a definitive agreement under which GCI will acquire 100% of the equity in Q Gateway Intermediate Holdings, a fiber infrastructure provider in Alaska. The transaction will combine Quintillion’s 1,800+ miles of existing subsea and terrestrial fiber and ~1,500 miles of planned fiber expansion with GCI’s statewide network and operations, advancing GCI’s mission to deliver reliable connectivity for Alaskans. Following the close of the transaction, GCI will operate the combined network using its best-in-class monitoring, maintenance, and restoration capabilities. GCI’s Alaska-based operations teams bring decades of experience managing fiber, microwave, and satellite networks in some of the most remote and unforgiving environments in North America. Centralizing network management under one operator will improve day-to-day performance and provide clear accountability during outages and restoration efforts. The combined network will benefit from unified network planning, preventative maintenance, coordinated repair readiness, and long-term capital investment decisions optimized across the full footprint. Following the transaction closing, GCI will complete Quintillion’s existing grant projects in progress, leveraging its deep experience delivering large-scale projects and continuing its history of responsible stewardship of public funding. It will operate the combined infrastructure as part of a unified network, ensuring continuity for participating communities. GCI will acquire 100% of Quintillion at a $310M Enterprise Value, subject to customary working-capital and other adjustments. GCI will reimburse up to $50M of qualifying capital expenditures related to the Nome-to-Homer Express project. Additional consideration may be payable in 2028, 2029, and 2031 through a post-closing earnout dependent on achievement of certain financial metrics. Shortly after signing, GCI will provide a $160M unsecured loan to Quintillion. Closing is anticipated following receipt of regulatory approval and satisfaction of customary closing conditions. Existing customer relationships, contractual obligations, and service arrangements are expected to continue without change following the close of the transaction.