Ubiquity Partners, which invests in critical communications infrastructure throughout the United States, recently completed a $40-million investment with Netly to develop open-access, fiber-optic networks throughout California, including North County, San Diego.
Netly will begin development in Solana Beach, CA, immediately and later expand to surrounding communities. Ubiquity says its partnership with Netly has the potential to grow to $250 million in overall capital commitments.
Ubiquity is working with Netly to bring a city-wide, open-access fiber network to Solana Beach, CA and surrounding areas. The network's open-access feature makes the fiber system open to local and national providers. The initial system is expected to pass approximately 7,000 residential and business addresses with construction commencing in early 2020.
"Ubiquity's goal is to invest in communications infrastructure that empowers communities for the future," said Ajay Ghanekar, managing partner of Ubiquity. "Working collaboratively, Ubiquity's operationally focused management team is enhanced by Netly's regional expertise. Netly is an ideal partner that shares our vision. Looking ahead, we have a robust pipeline of investment opportunities that we expect to attract capital and drive growth in 2020 and beyond."
The open-access network is designed to accommodate all current and future fiber uses, including long-term contracts with mobile carriers, government entities, utilities, edge computing and other broadband providers.
"Today's investment is supported by a long-term contract with an anchor tenant. Given the open-access nature of the system, we are well-positioned to add multiple independent service providers, diversify revenue streams and enhance asset value," said Ghanekar.
"Netly is on a mission to change the business model for internet infrastructure and fiber-optic deployments in the United States," said Jack Demers, CEO of Netly. "We believe every home, business, school, library and city building in the country should have access to abundant fiber-optic connections. The digital divide is best bridged by providing choice and spurring innovation, which are vital for healthy and vibrant communities. Ubiquity's support allows us to develop future-proof gigabit cities, enabling all constituencies to thrive in a digital world."