GCI to Acquire Quintillion in $310 Million Deal to Expand Alaska Fiber Network
GCI Liberty's (GLIBA, GLIBK) GCI Holdings unit and Grain Management said Wednesday that they have entered into a deal under which GCI will acquire Q Gateway Intermediate, or Quintillion, a fiber infrastructure provider in Alaska.The companies said that the deal will give GCI full ownership of Quintillion and combine both companies' fiber networks and improve reliable connectivity across Alaska.The enterprise value of the transaction is set at $310 million, subject to customary working-capital and other adjustments. GCI will also reimburse up to $50 million in certain construction costs tied to the Nome-to-Homer Express project. There could be additional payments made in 2028, 2029, and 2031 if specific financial targets are met. Soon after signing the agreement, GCI will provide Quintillion with a $160 million unsecured loan, the companies said.The deal is set to close after regulatory approval and satisfaction of certain conditions are met, according to a statement.Price: $37.07, Change: $+0.31, Percent Change: +0.86%
