GCI to Acquire Alaska Fiber Operator Quintillion in $310M Deal
GCI Holdings, LLC, a wholly owned subsidiary of GCI Liberty, Inc., and Grain Management, LLC have entered into a definitive agreement under which GCI will acquire 100% of the equity in Q Gateway Intermediate Holdings, LLC, the parent of Alaska fiber infrastructure provider Quintillion, at a $310 million enterprise value.
The transaction will combine more than 1,800 miles of existing subsea and terrestrial fiber and approximately 1,500 miles of planned expansion from Quintillion with GCI’s statewide network and operations, creating a more integrated backbone for Alaska’s connectivity needs.
“By bringing together complementary fiber routes, deep operational expertise, and long‑term investment under one operating model, we’re building a network that is stronger, more resilient, and better suited to Alaska’s realities than either company could deliver on its own,” said Billy Wailand, SVP of Corporate Development at GCI.
Following closing, GCI will complete Quintillion’s existing grant projects in progress and operate the combined infrastructure as part of a unified network, aiming to ensure continuity of service and investment for participating communities across the state. As part of the transaction economics, GCI will reimburse up to $50 million 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 tied to the achievement of specified financial metrics. In the near term, shortly after signing, GCI, LLC will provide a $160 million unsecured loan to Quintillion, supporting ongoing operations and capital commitments ahead of the combination.
Bank Street Group LLC is acting as exclusive financial advisor and Morgan Lewis is serving as legal advisor to Quintillion. TD Securities is acting as financial advisor and Baker Botts and O’Melveny & Myers are serving as legal advisors to GCI Liberty.
Pictured: Kotzebue, one of the communities served by Quintillion’s fiber infrastructure