JACKSONVILLE, Fla. – SDC Capital Partners, LLC ("SDC") announced today that funds managed by SDC have acquired a majority interest in IQ Fiber, LLC, a new residential fiber-optic internet provider headquartered in Jacksonville, Florida. The transaction provides IQ Fiber with significant equity funding to complete the first phase of its all-fiber network build, passing more than 60,000 homes in the Jacksonville area.
"Consumers deserve a smarter internet choice," said IQ Fiber CEO Ted Schremp. "High-speed internet has become a necessity and is truly the heartbeat of the modern home. With the launch of IQ Fiber, Jacksonville residents will soon have access to a state-of-the-art, 100% fiber-optic network with gigabit upload and download speeds, simple subscription plans and service experts who live and work in our community."
IQ Fiber plans to offer simple month-to-month rates with no hidden fees, surcharges or surprise price increases. IQ Fiber's three service plans will deliver symmetrical internet speeds between 250 and 1,000 Mbps, with whole-home Wi-Fi service always included.
Fiber to the home represents the state-of-the-art for the delivery of broadband services, yet it is accessible to only 36% of the U.S. population. Compounding the consumer challenge, approximately 83 million Americans can only access broadband through a single provider. With today's announcement, Jacksonville will soon have the freedom to choose a 100% fiber-optic network with simple, no-hassle plans, supported by local experts.