Joink Signs Deal to Grow Fiber Network
(photo courtesy of Joink)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowTerre Haute-based technology services company Joink LLC has inked a deal to expand its fiber optic network more rapidly. The company says the agreement to have DIF Capital Partners as its growth capital partner will open the door to “significantly more investment” by providing greater access to capital.
Joink says it has been providing internet service to residents and businesses in eastern Illinois and western Indiana since 2001, switching to fiber service in 2014. DIF is headquartered in the Netherlands with its U.S. office in New York.
“DIF is excited to partner with a well-established fiber and fixed wireless company such as Joink and its experienced management team,” Willem Jansonius, partner with DIF, said in a news release. “Joink’s approach to investing in residential fiber infrastructure fits DIF’s ambition to invest in the US fiber industry. In addition to creating local jobs, this investment helps bridge the digital divide in online education, remote employment opportunities, telemedicine and other prospects afforded by broadband access.”
Joink currently employs nearly 90 in west central Indiana. The company says the partnership will allow it take advantage of funds offered by local, state and federal governments for broadband investment in underserved areas, which could lead to more jobs.
“We have learned a lot about how people want to work and live over the last two years,” said Josh Zuerner, chief executive officer of Joink. “Understanding these trends and the important role that quality Internet access plays has created a call to action like we’ve never seen in the space of technology and broadband before. Joink sought a strategic partner to meet the call to action and we look forward to executing with our new partner.”
The company says the agreement remains subject to regulatory approval.