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The California-based telecommunications powerhouse, GeoLinks, and JLC Infrastructure, an asset management firm jointly helmed by sports legend Earvin “Magic” Johnson and business magnate Jim Reynolds Jr., have announced a landmark partnership set to revolutionize broadband access in America.
This collaboration is marked by a minority investment from JLC Infrastructure and will serve as the driving force behind GeoLinks’ accelerated mission to deliver high-speed broadband connectivity to disconnected communities nationwide. In an era where fast, affordable, and dependable broadband access has become indispensable, many American urban and rural communities find themselves marooned on the wrong side of the digital divide. GeoLinks, with its award-winning ClearFiber™ technology and unmatched gigabit-capable fixed wireless spectrum footprint, is poised to close this divide.
Expressing his excitement about joining the JLC portfolio, Skyler Ditchfield, Co-Founder and CEO of GeoLinks, said, “It is an honor to stand alongside the nation’s most significant infrastructure partners and projects within JLC’s portfolio. We anticipate that leveraging the resources and expertise of JLC Infrastructure and its formidable team will solidify our place as a telecommunications industry leader and further our mission of enhancing broadband accessibility for everyone.”
As the primary nationwide holder of Fixed Wireless Licensed Spectrum in the 29/31 GHz band, boasting over 84 billion+ Pops/Mhz, GeoLinks is expected to reach new horizons of growth and development with JLC’s investment. This union will enable GeoLinks to serve customers on a national level and contest a broad range of nationwide projects. With a process of securing such projects that is as much political as it is technical, the relationships JLC has cultivated across state, federal, and financial circles will prove invaluable.
JLC’s financial contribution, aligning with the support from GeoLinks’ first independent investor, Rock Mountain Capital, will augment GeoLinks’ existing significant spectrum footprint. This will further GeoLinks’ capacity to offer broadband to urban and rural communities, businesses, and government institutions beyond their current presence in California, Nevada, and Arizona.
Marlon Smith, Managing Director of JLC Infrastructure, highlighted GeoLinks’ unique potential, “For over a decade, GeoLinks has amalgamated a unique portfolio of assets that allow it to address critical communication needs effectively. We at JLC are eager to collaborate with the GeoLinks team and are committed to fostering the company’s growth and its mission of delivering superior broadband service to customers in underserved markets throughout the U.S.”
The partnership between GeoLinks and JLC Infrastructure is a critical juncture in the quest to bridge America’s digital divide. Backed by the expertise of Bank Street Group LLC as the exclusive financial advisor and Kirkland & Ellis LLP as the legal advisor to GeoLinks, this venture is geared to be a monumental stride towards a connected future.
GeoLinks stands at the forefront of enterprise-level telecommunications, continually disrupting industry norms and perceptions. Its innovative ClearFiber™ technology, in conjunction with its peerless fixed wireless spectrum footprint, ensures that reliable, enterprise-grade dedicated internet access reaches rural, suburban, and urban communities, businesses, and municipalities across the nation.
On the other hand, JLC Infrastructure, co-founded in 2015 by Loop Capital and Magic Johnson Enterprises, is a leading investor and asset management firm focused on sectors such as transportation, communications, energy, utilities, and social infrastructure across North America. As of March 31, 2023, the firm holds an impressive $1.5 billion in Assets Under Management.
The synergy between GeoLinks and JLC Infrastructure is set to break new ground in the broadband industry. The road to nationwide connectivity is in sight, and with the combined strength of GeoLinks and JLC Infrastructure, it’s only a matter of time before it becomes an accomplished reality.
