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A company considered the leading provider of fiber-based connectivity in Alaska has been acquired by Grain Management, a global investment firm that specializes in digital infrastructure.
Grain Managment has announced an acquisition of Anchorage-based QSH Parent Holdco, also known as Quintillion, has been completed. The acquisition brings Quintillion’s subsea and terrestrial high speed fiber optic network into Grain Management’s network of mission-critical broadband infrastructure, according to a Feb. 15 announcement from Grain Management, also known as Grain.
Quintillion’s subsea network “spans the Alaskan Arctic and connects to the Lower 48,” according to a summary of the company included in Grain’s announcement. The company is also spearheading a planned three-phase subsea cable system that will connect Asia to the Pacific Northwest and Western Europe via the Alaskan and Canadian Arctic, a summary of the company’s operations stated.
“Alaska is uniquely positioned to provide geostrategic advantage in bolstering our country’s defense capabilities—which means Quintillion, under Grain’s management, will play a critical role in boosting national defense,” said George Tronsrue III, the CEO of Quintillion, who was quoted in the announcement. “Having recently secured our latest national security agreement, the Quintillion team is thrilled about partnering with Grain to expedite closing the digital divide and accelerating the pace with which we connect more Alaskans to each other and to the rest of the world.”
In June 2023, Quintillion was awarded $89 million by the NTIA’s middle mile broadband grant program, which built redundant middle mile backhaul capabilities, thereby “creating redundancy and reliability for Alaska’s broadband network infrastructure,” Grain’s announcement stated.
Chad Crank, Grain’s managing director, said his company is excited to get to work alongside Quintillion’s “talented leadership team.”
“We believe in the company’s distinct competitive advantage and its unparalleled market position and look ahead to expanding its presence in Alaska and the North American Arctic,” he said, according to Grain’s release.
Reach Brad Randall at brad.randall@totaltele.com.
