US wireless infrastructure provider Mobilitie has closed a US$325m debt investment to fund growth plans. The company is looking for innovative ways to help wireless carriers cope with surging data usage.
US wireless infrastructure provider Mobilitie has closed a US$325m debt investment to fund growth plans.
The transaction was led by CIT Bank and TD Securities and will be used for the privately held company’s distributed antenna systems (DAS), small cell, communication tower and wifi business investments, Mobilitie said in a statement. The terms of the new facility were not disclosed.
Mobilitie president Christos Karmis (pictured) said the company is working to design and build innovative wireless solutions which the big four mobile carriers and others can use to cope with surging data usage.
“We’re driving the country’s most important infrastructure projects and deploying more venue infrastructure and new outdoor macro networks than any other firm,” he said.
The Cellular Telephone Industries Association (CITA) has predicted that mobile data traffic in 2019 will be nearly 600% higher than in 2014.
Newport Beach-based Mobilitie, founded by Gary Jabara in 2005, describes itself as the country’s largest privately held wireless infrastructure provider. Its partners include all of the major mobile carriers as well as sports and entertainment centres. It also operates a carrier-grade WiFi network in Las Vegas in partnership with MGM Resorts.
Mobilitie has been relatively active in terms of financing over the years. In 2013, it secured a US$100m investment from Shamrock Capital Growth Fund II and, in 2012, it raised US$1.1bn from the sale of some 2,300 towers and other mobile sites to SBA Communications. Previous deals include a US$415m raise with TD Securities in 2011 and a US$425m raise in 2008.