PTI closes acquisition of Tower Ventures and TAEC
Phoenix Tower International (PTI) has completed the acquisition of Tower Ventures Holdings III (Tower Ventures) and Technology Associates EC (TAEC).
Specifically, PTI now hold a 100% ownership interest in Tower Ventures and its related entities as well as 100% ownership of TAEC.
"With these two acquisitions, PTI continues to grow and scale in the United States for its customers, providing a high-quality portfolio of strategic sites across the country and a best-in-class services business to help our customers build out their 5G networks faster. Furthermore, the TAEC transaction doubles our personnel in the United States to over 200 employees dedicated to helping our customers achieve their goals," said Dagan Kasavana, CEO of Phoenix Tower International.
The Tower Ventures transaction sees PTI gain 202 high-quality wireless telecoms sites across the US and marks the second transaction between Tower Ventures and PTI, with the first transaction taking place in 2020. The first tranche saw PTI gain 197 wireless communication towers.
Through the TAEC transaction, PTI gains a country-wide presence as well as the addition on 90+ telecom professionals. Specifically, the dela enables PTI to offer services, such as project management, data management, site acquisition, backhaul and AAV/fibre design and acquisition, architecture & engineering design and structural engineering, and construction project management.
In addition, the TAEC team will further position PTI as a strategic partner to US wireless carriers with the ongoing densification of networks and roll-out of next-gen technologies, such as 5G.
In related news, March saw PTI announce plans to acquire a total of more than 3,000 telecoms towers from Cellnex Telecom in France.
Broken into two separate transactions, PTI has entered into a definitive agreement with Cellnex Telecom to acquire 1,226 telecoms sites in densely populated areas in France, adding SFR as a PTI MNO client in France.
The second deal will see PTI with its joint venture partner Bouygues Telecom, acquire a further 2,000 sites in densely populated areas.