US tower operator Vertical Bridge Holdings has agreed to merge with CiG Wireless, which owns and operates more than 200 sites, in a US$143m all-cash deal. The deal is expected to close in the second quarter of this year subject to customary closing…
US tower operator Vertical Bridge Holdings has agreed to merge with CiG Wireless, which owns and operates more than 200 sites, in a US$143m all-cash deal.
The deal is expected to close in the second quarter of this year subject to customary closing conditions.
“This transaction brings together two complementary cellular tower operators, and the combined business will have a broad geographic presence across the United States,” CiG Wireless CEO Paul McGinn said.
A listed tower owner and operator, CiG Wireless leases antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts, while Florida-based Vertical Bridge is a privately-owned REIT focused on wireless communications.
Last December, Vertical Bridge, which was founded in 2014 by Digital Bridge Holdings, acquired 595 towers from regional operator US Cellular for US$159m.
