Phoenix Tower International (“PTI”) announced today that it has closed two transactions in the US, with the first transaction being the acquisition of a 100% ownership interest in Tower Ventures Holdings III, LLC (“Tower Ventures”) and related entities; and the second transaction the 100% acquisition of the US-based telecom infrastructure services company, Technology Associates EC Inc. (“TAEC”).
The Tower Ventures transaction provides PTI ownership of 202 high-quality wireless telecommunications sites across the country. This marks the second transaction between Tower Ventures and PTI, with the first transaction taking place in 2020 (see further details here). The acquisition of these new sites further advances PTI’s position as the leading private tower company in the world.
The TAEC transaction bolsters PTI’s telecom infrastructure services’ offering and geographic footprint in the US. The transaction provides PTI with a country-wide presence and with additional 90+ leading telecom professionals. The TAEC transaction expands PTI’s US business to offer services, such as project management, data management, site acquisition, backhaul and AAV/fiber design and acquisition, architecture & engineering design and structural engineering, and construction project management. The TAEC team will allow PTI to further integrate as a strategic partner to US wireless carriers in connection with the ongoing densification of networks and roll-out of next-generation technologies, including 5G.
“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.” Stated Dagan Kasavana, CEO of Phoenix Tower International