Extenet Systems, a US manufacturer of distributed networks for use by wireless carriers, is reportedly up for sale. The tower company has appointed TAP Advisors to scout for potential buyers, which could include larger rival Crown Castle and several…
Extenet Systems, a US manufacturer of distributed networks for use by wireless carriers, is reportedly up for sale.
The tower company has appointed TAP Advisors to scout for potential buyers, which could include larger rival Crown Castle and several private equity firms, according to a Reuters report citing people familiar with the matter.
A spokesperson for Extenet told TelecomFinance that there was no imminent deal but did not comment further. Crown Castle did not respond to a request for comment.
Extenet, which is owned George Soros’ Quantum Strategic Partners and tower company SBA Communications among other investors, could be sold at 18x EBITDA, more than US$700m, the people were quoted as saying.
In 2012, Crown Castle acquired 7,200 towers from T-Mobile US for US$2.4bn. A year later, it bought over 9,000 towers from AT&T in a US$4.8bn deal. TAP Advisors assisted the sellers in both deals.
