Boca Raton-based Phoenix Tower International (PTI) has announced that it has closed two transactions in the US. The first deal involves the acquisition of a 100% ownership interest in Tower Ventures Holdings III (Tower Ventures) and related entities; the second one involves the 100% acquisition of the US-based infrastructure services company Technology Associates EC (TAEC).
The Tower Ventures transaction provides PTI with the ownership of 202 cell sites across the country. (Note: this marks the second transaction between Tower Ventures and PTI, with the first one taking place in March 2020, and involving 197 towers situated on the Atlantic seaboard and in the South and Midwestern regions.) Meanwhile, the TAEC transaction bolsters PTI’s telecom infrastructure services offering and geographic footprint in the US.
PTI, through its subsidiaries, will – pro forma for pending transactions – own and operate over 18,000 telecom towers and 986km of fibre across 18 countries throughout the US, Europe, Latin America and the Caribbean.