Mobilitie, the country’s largest privately-held wireless infrastructure provider, announced it will receive a $325 million debt investment from CIT Bank N.A. and TD Securities to bolster its distributed antenna systems, small cell, macro site and Wi-Fi business.
The investment comes on the back of industry forecasts predicting data traffic could increase 600% by 2019, which would create a need for massive network investment to keep up with the demand.
“As the big four carriers, real estate owners, professional sports leagues and governments seek ways to accommodate the ever-increasing need for seamless mobile access, Mobilitie is leading the effort to fund, design and build innovative wireless solutions for even the most complex network challenges,” said Christos Karmis, president of Mobilitie. “We’re driving the country’s most important infrastructure projects, and deploying more venue infrastructure and new outdoor macro networks than any other firm.”
This is just the most recent successful round of debt funding for Mobilitie. In February 2013, the company received a $100 million cash infusion from Shamrock Capital Growth Fund III. In 2012, the Newport Beach, Florida-based company sold 2,300 towers and other mobile sites to SBA Communications for $1.1 billion.
In partnership with MGM Resorts in Las Vegas, Mobilitie owns and operates what is claimed to be the world’s largest carrier-grade Wi-Fi network in the world. It also provides infrastructure to all four major U.S. carriers, as well as many professional sports and entertainment arenas throughout the country, including the Verizon Center, home of the Washington Wizards; Tropicana Field, home of the Tampa Bay Rays; Toyota Park; Arrowhead Stadium, home of the Kansas City Chiefs; Edward Jones Dome, home of the St. Louis Rams; the Honda Center, home of the Anaheim Ducks; and Churchill Downs, home of the Kentucky Derby.
