Showing posts with label Alaska. Show all posts
Showing posts with label Alaska. Show all posts

Monday, January 4, 2021

Alaska Communications finds a new buyer

ATN International and Freedom 3 Capital agreed to acquire Alaska Communications Systems Group in an all cash transaction valued at approximately $332 million, including net debt. 

Alaska Communications’ prior agreement to be acquired by an affiliate of Macquarie Capital and GCM Grosvenor, through its Labor Impact Fund, has been terminated.

In connection with the termination, Alaska Communications paid Macquarie and GCM a $6.8 million break-up fee.

David W. Karp, Chairman of the Alaska Communications Board of Directors, said, "Today's announcement is the product of a comprehensive process that demonstrates what a strong business the team at Alaska Communications has built. The agreement with ATN is a great result for our stockholders, who will receive significant near-term value."

Alaska Comm. Sys to be acquired for $300m

Alaska Communications Systems Group (NASDAQ: ALSK) will be acquired by an affiliate of Macquarie and GCM Grosvenor (through its Labor Impact Fund) in an all cash transaction valued at approximately $300 million, including debt. 

Under the deal, all the outstanding shares of Alaska Communications common stock will be acquired for $3.00 per share in cash, representing a premium of approximately 57% over the closing per share price of $1.91 on November 2, 2020, the last trading day prior to the date the merger agreement was executed.

David W. Karp, Chairman of the Alaska Communications Board of Directors, said, "After carefully evaluating Macquarie Capital’s and GCM’s offer, we are confident that this transaction is in the best interest of Alaska Communications and its stockholders. Macquarie Capital has a proven track record of delivering large and complex transactions globally on accelerated timelines, and GCM’s Labor Impact Fund provides strategy driven capital that we expect will generate real value for our customers and the Alaska Communications workforce."

Bill Bishop, President and Chief Executive Officer of Alaska Communications, stated, "GCM’s Labor Impact Fund provides strategic value to our business both through its experience in the telecommunications sector and in fostering partnerships with a unionized workforce. We firmly believe this transaction will allow us to enhance our expanded fiber network services and drive long-term value for our customers in Alaska and the Lower 48."


Monday, April 20, 2020

GCI activates first 5G cell sites in Anchorage

GCI activated the first 5G cell sites in Anchorage, Alaska. Ericsson is the network supplier.

“In June of 2019, we committed to launching 5G service in the spring of 2020. I am proud to announce today that we have delivered on that commitment,” said GCI CEO and Co-Founder Ron Duncan. “We have upgraded our wireless core, and we intend to upgrade the vast majority of cell sites in Anchorage, Eagle River and Girdwood to our 5-band 5G NR solution by the end of the year. At that point, we will have created essentially a brand-new wireless network in Anchorage, comparable in quality and performance to our industry-leading cable modem network.”

“We’re proud to partner with GCI to deploy 5G in Anchorage to give Alaskans the network quality and speed they want and need,” said Rob Johnson, Head of Customer Unit Regional Carriers for Ericsson North America. “Ericsson and GCI have had a long-standing partnership to connect customers in some of the most remote communities in Alaska, and we look forward to continuing our collaboration with GCI to turn the Last Frontier into the First Frontier for 5G.”

Sunday, December 17, 2017

Quintillion lights subsea cable for arctic Alaska

Quintillion has activated commercial service on its new subsea fiber optic cable system serving five northern Alaska communities: Utqiaġvik, Wainwright, Point Hope, Nome, and Kotzebue.

Installation of the Alaska Arctic portion of the international Quintillion Subsea Cable System was completed in early October.

Quintillion’s subsea and terrestrial fiber optic network spans 1,400 miles, including a subsea trunk line from Prudhoe Bay to Nome with branching lines to the five communities.

Quintillion is aiming to extend its Arctic subsea cable system westwards to Asia (phase 2) and then eastwards to Europe (phase 3).

Friday, March 10, 2017

Alaska Comm Extends with Quintillion Subsea Cable

Alaska Communications announced that leveraging Anchorage-based infrastructure company Quintillion's new submarine optical cable it is bringing new services to Alaska's northernmost communities, including Utqiaġvik (formerly known as Barrow), Nome, Kotzebue, Point Hope and Wainwright.

Through the project, corporations, government agencies, healthcare and education institutions in the northwest region of Alaska will gain access to reliable high-speed broadband and managed IT services for the first time.

Quintillion's infrastructure will enable the provision of commercial high-speed connectivity in areas where previously only costly microwave and satellite communications were available from a single provider. The new fibre network will support lower cost, high-speed access to the communities in northwest Alaska.

Alaska Communications, the leading broadband and managed IT services provider in the state, noted that when the new network becomes available later in 2017 it will act as a reseller to select telecom carriers, as well as serving business customers using the expanded network. In addition, as part of the agreement Quintillion will purchase capacity services for its new terrestrial system linking the oil fields of the North Slope on Alaska Communications' fibre network from Fairbanks to the U.S.

Alaska Communications noted that it first partnered with Quintillion in 2015 when it acquired a fibre network from ConocoPhillips in the part of Alaska's North Slope where most recent oil and gas exploration is occurring. The new agreement allows Alaska Communications to connect the original fibre to its existing network via Quintillion's new terrestrial network, providing redundancy and extending broadband and managed IT services to more oil and gas companies on the North Slope.

Quintillion is aiming to deliver affordable, carrier-class broadband services in Alaska, and with partners is specifically seeking to develop Alaska's middle-mile capabilities via the construction of new cable systems.

In May 2016 Quintillion announced it had acquired the assets of Arctic Fibre as part of a plan to build a submarine fibre optic cable from Asia to Europe, with the first phase in Alaska. Arctic Fibre is planning to deploy a Europe-Asia submarine cable system linking Nome to Prudhoe Bay in Alaska, Nome to Tokyo, Japan and form Prudhoe Bay to England, with additional spurs to Arctic Canada.