Grain Management Acquisition FAQs
Grain Management Acquires Quintillion to Accelerate Broadband Expansion in Alaska
What does this mean for existing grant applications?
We have informed NTIA and RUS of the impending changes and will proceed with the process in accordance with the rules outlined in the notice of funding opportunity.
What does this mean for current expansion plans?
The new investors are highly motivated to continue and accelerate Quintillion’s expansion plans.
Will there be changes in personnel at Quintillion?
No. Grain and Quintillion are completely aligned on a strategic plan, which includes our existing employee base.
What is an MBO?
The benefits of a management-led buyout are the investor buys into management’s plan, the investor supports the management plan, and is committed to executing the management plan.
Who are the owners now?
Cooper Investment Partners owns the company through the regulatory approval process and the closing of the transaction. Following the close of the transaction the company will be owned by Grain Management and all full-time employees of Quintillion.
The need is greater than ever to bridge the digital divide. Quintillion is poised for massive expansion within the state, outside the state, and up into space. Grain is eager to support these efforts and is especially enthusiastic about expanding into the communities in the Norton Sound and in the Yukon Kuskokwim region.
Why Grain Management?
Grain Management specializes on broadband technology investments. They bring a fresh perspective and new capital to empower Quintillion to continue to bridge the digital divide in the State of Alaska.
Will Cooper Investment Partners continue to be involved?
Cooper Investment Partners will be involved through the regulatory approval process and the close of the sale. We have an operating agreement with Grain and CIP and have defined the terms of how the company will work in the interim.
Who will be on the board?
Not final at this time.
How long will the regulatory process take?
Typically, the process takes six to nine months.