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In a pioneering stride towards bridging the digital divide in America, California-based GeoLinks has secured a minority investment from JLC Infrastructure. This venture, founded by NBA legend Earvin “Magic” Johnson and entrepreneur Jim Reynolds Jr., manages a formidable $1.5 billion in assets, resources that will play a crucial role in GeoLinks’ ambitious endeavor to bring high-speed broadband connectivity to the entirety of the United States.
GeoLinks stands out in the telecommunications industry with its ClearFiber™ technology and the largest gigabit capable fixed wireless spectrum footprint in the U.S. The technology, lauded for its innovativeness and efficiency, has been instrumental in the company’s success. With such a robust technological foundation, GeoLinks is uniquely poised to reach out to disconnected urban and rural American communities and offer them reliable, high-speed broadband connectivity – a necessity in today’s increasingly digitized world.
Skyler Ditchfield, GeoLinks’ Co-Founder and CEO, views the collaboration with JLC as a pivotal moment in the company’s growth. He stated, “Joining the JLC portfolio of investments is an honor. This collaboration will provide us with the opportunity to harness JLC Infrastructure’s resources and expertise, which will fortify our standing in the telecommunications industry and enable us to bring broadband accessibility to every corner of the nation.”
As a telecommunications titan, GeoLinks holds a noteworthy position in the sector, being the largest Nationwide holder of Fixed Wireless Licensed Spectrum in the 29/31 GHz band, encompassing over 84 Billion+ Pops/Mhz. The investment by JLC is anticipated to fuel GeoLinks’ growth and expand its reach to service customers at a national level and compete for nationwide projects.
The company’s pursuit of these projects is a complex task, entailing both technical and political expertise. Here, JLC’s wide-ranging relationships across various state, federal, and financial circles become a significant asset in GeoLinks’ pursuit of securing awards. This strategic alignment will propel GeoLinks further, allowing it to provide broadband to urban and rural communities, businesses, and government institutions beyond its present coverage areas in California, Nevada, and Arizona.
Sharing his thoughts on the alliance, Marlon Smith, Managing Director of JLC Infrastructure, stated, “GeoLinks has, over the last twelve years, put together an unparalleled combination of assets that make it uniquely qualified to address critical communication needs. JLC eagerly anticipates its partnership with GeoLinks and is committed to aiding the company’s growth and its mission of delivering high-quality broadband service to underserved markets across the U.S.”
In this significant venture, GeoLinks was advised by the Bank Street Group LLC on financial matters, while legal counsel was provided by Kirkland & Ellis LLP.
GeoLinks has been at the forefront of the telecommunications industry, constantly disrupting norms and exceeding expectations. With its ClearFiber™ technology and an unparalleled fixed wireless spectrum footprint, the company has been providing rural, suburban, and urban communities, businesses, and municipalities with top-tier dedicated internet access.
JLC Infrastructure, founded in 2015 by Loop Capital and Magic Johnson Enterprises, is an investor and asset management firm that primarily operates in the transportation, communications, energy, utilities, and social infrastructure sectors in North America. As of March 31, 2023, the firm has an impressive $1.5 billion in Assets Under Management.
The union of GeoLinks and JLC Infrastructure thus represents a significant milestone in the broader mission of ensuring broadband accessibility throughout America. The forthcoming nationwide expansion marks an era of inclusivity and connectivity, bringing the prospect of a fully digital America closer to reality.
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