Acquisition brings InSite’s tower portfolio to more than 1,200
InSite Wireless Group on April 1 announced its acquisition of 294 communication tower sites from CTI Towers for an undisclosed price. The purchase includes towers, related tower-site equipment, real estate property interests and attendant carrier usage agreements.
InSite leases tower space to wireless carriers, broadcasters, municipalities and utility companies, among others. CTI is primarily owned by Comcast Ventures.
“InSite, its investors and its employees are enthusiastic about closing this transaction with CTI Towers,” InSite President and CEO David Weisman said in a prepared statement. “We view this acquisition as an important addition to our current tower portfolio and as clear evidence of our investors’ ongoing commitment to grow InSite’s platform of wireless infrastructure assets.”
In addition to tower assets, InSite also operates in the distributed antenna system and small cell spaces.
InSite operates more than 20 domestic deployments in convention centers, casinos, airports, stadiums and transit systems including the Massachusetts Bay Transit Authority’s Boston subway system and the Los Angeles County Metro.
CTI Towers CEO Tony Peduto lauded his company’s growth since opening four years ago. “Since launching CTI Towers, we have constructed an outstanding tower portfolio and are very pleased with the market reception. We believe InSite’s management of these assets will continue to nurture and provide the same level of operating excellence.”
In other tower news, U.S. Cellular this week said it plans to add more than 600 LTE cell sites this year as it looks to expand coverage to 98% of its customer base across 10 states.
The expansion is set to include 2,000 towns in areas of California, Maine, Maryland, New Hampshire, North Carolina, Oregon, Vermont, Virginia, Washington and West Virginia. Much of that will include work with King Street Wireless, which controls the 700 MHz A-Block spectrum assets U.S. Cellular uses to power some of its LTE network.
