Earlier this week, CTI Towers,
Inc., announced that they had secured up to $30 million in debt financing and
closed its first-part acquisitions, purchasing five towers from a major
wireless carrier. CTI Towers, Inc., is a wireless tower operator with more than
800 towers throughout the U.S.
By acquiring these 5 towers,
CTI Tower’s continues to grow outside the Comcast portfolio, where a large
majority (230) towers came from. The company is looking to secure towers within
regions with high-demand for wireless capacity.
“We remain committed to helping our customers meet
deadlines for new cell sites and network deployment,” said Tony Peduto, Chief
Executive Officer, CTI Towers. “We will continue to seek strategic acquisitions
to fuel growth as the wireless industry responds to the demand for wireless
broadband services.”
CTI Towers has already had interest from the major
carriers regarding equipment on the towers to bring their customers better
service. The towers CTI Towers acquired are located in North Carolina, South
Carolina, Ohio, Mississippi, and Pennsylvania. With the demand for mobile
increasing dramatically, it’s becoming necessary to expand our wireless
infrastructure to deal with these capacity demands.
“As the personal computing device and
smartphone industry took off, we recognized mobile network operators would
eventually need to fortify their mobile networks to meet consumer demand for
mobile Internet access at scale,” said David Zilberman, Venture Partner at
Comcast Ventures and CTI Towers Board Chairman. “We’re excited to see CTI
Towers grow its footprint and enhance its ability to deliver even more tower
inventory across the country, helping all wireless carriers keep their networks
in-stride with consumer demand.”
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