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Mobilitie Raises $1B Through Sale Of Towers, Sites

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[Techtaffy Newsdesk]

Mobilitie has raised $1.1 billion in capital through a sale of over 2,300 United States and LATAM tower and DAS sites to SBA Communications. The transaction, subject to customary closing conditions, is expected to close in April 2012.

Mobilitie will utilize proceeds from the sale to buy down existing debt and fuel continued growth plans of building and operating wireless infrastructure, says the company.

Christos Karmis (President, Mobilitie): As the wireless industry continues to evolve with exponentially higher data demands, DAS and Wi-Fi networks will become a more critical solution for carriers to offload their macro networks.

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