Intrepid Fiber Networks Completes Acquisition of Ubiquity’s Southern California Fiber Network
Intrepid Fiber Networks, a Brookfield-backed open-access fiber infrastructure builder and operator, announced that it has completed its previously announced acquisition of Ubiquity’s Southern California fiber network. The transaction follows the receipt of required regulatory approvals earlier this month and marks another significant step in Intrepid’s expansion across California.
The acquisition adds an established, in-service fiber-to-the-premises network spanning more than 35,000 fiber passings across the Southern California communities of Solana Beach, Encinitas, Carlsbad and Oceanside. The newly acquired infrastructure expands Intrepid’s existing presence in the region and strengthens its ability to provide high-speed, reliable broadband connectivity to homes and businesses throughout San Diego County.
The acquisition complements Intrepid’s ongoing fiber construction projects in Vista and San Marcos, where the company is continuing to build out its open-access network. With the addition of Ubiquity’s Southern California assets, Intrepid’s network now reaches more than 100,000 homes and businesses passed across San Diego County.
The company is also advancing fiber construction projects in Corona and Riverside, further extending its presence throughout Southern California. Through a combination of strategic acquisitions and organic network construction, Intrepid continues to expand its open-access fiber platform and increase access to next-generation broadband infrastructure.
For existing customers of the acquired network, the transition is expected to be seamless. Subscribers will experience no change to their existing service, while the network continues to operate under Intrepid’s wholesale open-access model. The model enables multiple service providers to use the underlying fiber infrastructure, giving consumers and businesses greater choice while supporting efficient network utilization.
With the transaction officially closed, the operations and employees supporting Ubiquity’s Southern California network have transitioned to Intrepid. The company has begun integrating the newly acquired assets into its broader platform while also preparing for additional network construction and expansion. Intrepid’s focus will be on extending fiber availability to thousands of additional locations across the newly expanded footprint.
“We’re thrilled to welcome the Solana Beach, Encinitas, Carlsbad and Oceanside communities to the Intrepid network,” said Jack Waters, CEO of Intrepid Fiber Networks. “This acquisition strengthens our presence in Southern California and reflects our continued commitment to bringing high-speed, reliable fiber connectivity to more residents and businesses across the state. We look forward to building on this momentum as we continue to grow our footprint in California.”
For Ubiquity, the completed transaction supports the company’s broader strategy of concentrating its capital and operational resources on its larger, core markets. The company said it will continue to scale its platform in those markets while pursuing its broader business strategy.
“This transaction represents an important milestone for Ubiquity and reflects our strategy of concentrating capital and operational resources on our larger, core markets, where we continue to scale our platform — a strategy we have been executing throughout this year,” said Laxman Ramu, CEO of Ubiquity. “We congratulate the Intrepid team and are confident that the network is well positioned for continued growth and success under their ownership.”
Expanding California’s Open-Access Fiber Infrastructure
Since entering the California market, Intrepid has pursued an aggressive expansion strategy built around both organic construction and targeted acquisitions. The company has used these complementary approaches to establish a growing open-access fiber platform capable of serving residential, commercial and other broadband customers.
The acquisition of Ubiquity’s Southern California network provides Intrepid with an established infrastructure base in several strategically located communities. Rather than relying solely on new construction, the transaction allows the company to integrate an operational fiber network into its existing platform while continuing to invest in new construction opportunities.
Intrepid said it intends to maintain this growth strategy as it evaluates additional opportunities to expand its footprint across California and other parts of the United States. The company’s approach combines investment in existing infrastructure with continued deployment of new fiber to address increasing demand for fast, reliable and scalable broadband connectivity.
The expansion comes as demand for fiber-based broadband continues to grow among both residential and business users. Fiber-to-the-premises networks are designed to provide high-capacity connectivity and support the increasing number of applications and services that depend on reliable broadband infrastructure.
By operating under a wholesale open-access model, Intrepid provides the underlying fiber infrastructure while enabling multiple internet service providers and other communications companies to access the network. This approach is intended to support broader service availability while allowing providers to compete for customers without each company having to build and maintain its own parallel fiber network.
The completion of the Ubiquity transaction therefore represents both an expansion of Intrepid’s physical infrastructure and an opportunity to broaden the reach of its open-access platform in Southern California.
Financial terms of the transaction were not disclosed.
Intrepid was advised by Berg Hill Greenleaf Ruscitti and Morgan Lewis. Ubiquity was advised by Bank Street and Kirkland & Ellis.
About Intrepid Fiber Networks
Founded in 2021 and launched by Brookfield Asset Management, Intrepid Fiber Networks is an open-access fiber-to-the-premises infrastructure platform focused on building and operating high-performance broadband networks throughout the United States.
Intrepid operates under a Wholesale Open Access Model, providing fiber infrastructure that can be utilized by multiple service providers. The company’s mission is to deliver high-quality fiber connectivity to communities across the country while helping meet the growing broadband requirements of households and businesses.
Through a combination of new construction, strategic acquisitions and network expansion, Intrepid is building a nationwide platform designed to support the evolving connectivity needs of communities and businesses.
For more information, visit www.intrepidfiber.com.
About Ubiquity
Ubiquity develops and manages digital communications infrastructure across the United States. The company focuses on last-mile connectivity and operates an open-access fiber platform serving communities throughout the country.
Ubiquity works with internet service providers, wireless carriers, utilities and municipalities to deliver connectivity and sustainability solutions, with a particular focus on expanding infrastructure in underserved communities.
For more information, visit ubiquitygp.com.
Forward-Looking Statements
Certain statements contained in this announcement, including statements made by management, constitute forward-looking statements under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements reflect current expectations regarding future plans, activities and performance and speak only as of the date of this announcement.
Actual results and future developments may differ from those anticipated in forward-looking statements due to a variety of factors. Expectations and underlying assumptions may change or may not be realized. Accordingly, readers should not place undue reliance on these statements. The companies undertake no obligation to update forward-looking statements except as required by applicable law.
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