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American Tower Corp. to Acquire InSite Wireless Group for $3.5B
Boston-based REIT American Tower Corp. has announced that it has entered into an agreement to acquire InSite Wireless Group, which owns, operates and manages approximately 3,000 communications sites, primarily in the U.S. and Canada.
The portfolio includes more than 1,400 owned towers in the U.S., over 200 owned towers in Canada and approximately 70 distributed antenna system (“DAS”) networks in the U.S. In addition, InSite controls more than 600 land parcels under communications sites as well as approximately 400 rooftop sites. The total consideration for the transaction, including cash acquired and the Company’s assumption and/or repayment of InSite debt at closing, is approximately $3.5 billion.
“This transaction augments our foundational U.S. business through the addition of a well-run, high-quality, complementary, macro-tower focused portfolio, while also marking our entry into Canada,” said Tom Bartlett, CEO at American Tower. “We believe that these assets are positioned to enhance our organic growth and cash flow trajectory in the future as 5G deployments accelerate and densification initiatives progress.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
